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July 5, 2012 10:00 AM, EDT

FedEx Corp. said it completed its acquisition of Brazilian logistics firm Rapidão Cometa Logística e Transportes S.A.

Terms were not released about the deal, . Rapidão Cometa generates about $500 million per year in revenue.Ìý

FedEx said the acquisition will extend its reach in Latin America and gives its FedEx Express unit access to a ground network of 45 branches, 770 vehicles and trailers.

FedEx earlier this year bought package delivery companies in France in Poland.

FedEx Corp. is ranked No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.