Loomis to Acquire Peru's Hermes in Strategic Latin American Expansion

Key Facts

Swedish cash management specialist Loomis has entered into a Tender Offer Agreement to acquire 99.49 percent of the shares in Hermes, a leading cash and valuables management company in Peru. The agreement was signed with CVC Capital Partners and certain minority shareholders to acquire nearly all outstanding shares of Hermes Transportes Blindados S.A. This acquisition marks Loomis's strategic entry into the Peruvian market, leveraging Hermes's dominant local position. By integrating Hermes into its portfolio, Loomis aims to strengthen its regional footprint across Latin America. The move aligns with the company's broader strategy of expanding into emerging markets through the acquisition of established market leaders. This transaction is expected to diversify Loomis's revenue streams and bolster its global market share in cash handling services.