On Thursday, Source Logistics announced it was rolling out a strategic growth plan that would help it meet the growing demand for Latin American goods in the United States.
The growth plan includes new leadership appointments and a management restructuring, investments into new capacity and delivering of new services. Former CEO and co-founder Marcelo Sada will take on a new position focusing on key growth initiatives, while former COO and co-founder Raul Villarreal will take on the CEO role. Other appointments include Emily Robertson as CFO and Carl Fowler as Senior VP of Sales.
“Source Logistics is ideally positioned to capitalize on favorable macro trends such as the decoupling from China, near-shoring to Mexico, and a rapidly expanding Hispanic population whose spending power currently accounts for USD 3.2 trillion in GDP,” Carl Fowler, SVP of Sales at Source Logistics, said. “We are optimized to help our customers meet the surging demand for consumer goods delivery from Latin America to the US through our renowned specialization and experience in the sector and our 12 strategically located facilities, already totaling more than 2.3 million square feet.”
Officials with the company said the next phase of the plan would include targeting four new locations including Atlanta, Chicago, and Florida; adding 20 percent capacity to the company’s existing footprint; delivering new transportation services, including freight consolidation and brokerage; incorporating a proactive merger and acquisition strategy; and signing agreements for several strategic partnerships.