Brink’s Buys Mexican Logistics Company

The Brink’s Co. said Thursday it bought Mexican logistics firm Servicio Pan Americano de Proteccion, S.A. de C.V., for about $60 million.

SPP, which has about 12,000 employees, 1,350 armored vehicles and 80 branches, works in cash-in-transit, automated teller machine and money processing operations and is the largest secure logistics company in Mexico, Brink’s said.

Brink’s has owned a 21% stake in SPP since 1965. It acquired the remaining interests from a consortium, but 0.25% of the company will remain in Mexican control due to Mexican law.