UPS today announced that the company has entered into an agreement to acquire Estafeta, a leading Mexican package delivery company.
This move is a key part of UPS’ “Better and Bolder” strategy, which aims to become the world’s premier global package and logistics services provider.
Carol Tomé, UPS president and CEO said: “Global supply chains continue to shift, Mexico’s role in world trade is growing, and Mexico’s SME and manufacturing sectors are looking for reliable access to the U.S. market.
“There is no better way to capitalize on these trends than by combining the size and scale of UPS with Estafeta.
“As the shift toward nearshoring continues, the combination of our businesses will provide customers in Mexico with unprecedented access to global markets with seamless service and increased efficiency.”
This acquisition is the evolution of a business collaboration agreement the two companies established in 2020.
When the two companies are combined, customers will be able to rely on integrated solutions that link parcel services, healthcare logistics and supply chain solutions across the value chain, creating a differentiated ‘One UPS’ advantage.
Jens P. Grimm, Estafeta’s president and CEO said: “We are excited to combine Estafeta’s proud 45-year logistics heritage and expertise with UPS, a company that shares our values of service excellence, investment in its people and community involvement.
“Today’s announcement is a testament to the hard work and dedication of our people and the trust of all of our customers and suppliers in Mexico.
“This is the right time to accelerate our growth. UPS will help connect our customers to new global opportunities and strengthen the connection of Mexico’s growing economy to the rest of the world.”
The transaction is expected to close by the end of the year, subject to customary closing conditions and regulatory approvals.