RIO DE JANEIRO, BRAZIL - Magazine Luiza (MGLU3) on Monday announced that it has completed the acquisition of Sode Intermediação de Negócios, a logistics platform for ultra-fast deliveries.
The transaction was handled through a company controlled by the retailer and its value has not been disclosed.
Founded in Recife in 2015, Sode operates in 8 states and has over 1,000 active couriers who currently make 2 million deliveries annually.
The company has proprietary technology specialized in managing, routing, and tracking ultra-fast deliveries made by partners with their own motorcycles. Its algorithm enables orders to be allocated . . .