UPS announced that it has agreed to buy Estafeta, a leading Mexican express delivery company. This deal is a key part of UPS’ Better and Bolder strategy, aimed at becoming the world’s premium international small package and logistics provider.
This deal is an evolution of a commercial agreement established between the two companies in 2020. And when the two companies are combined, customers can depend on UPS’ integrated solutions that link small package, healthcare logistics, and end-to-end supply chain solutions, creating a differentiated One UPS advantage.
The deal is expected to close by the end of this year, subject to customary closing conditions and regulatory approvals. The value and terms of the transaction are not being disclosed at this time.
KEY QUOTES:
“Global supply chains are shifting, Mexico’s role in global trade is growing, and Mexican SMB and manufacturing sectors are looking for reliable access to the US 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 to nearshoring continues, our combined business will give customers in Mexico unprecedented access to global markets with seamless service and greater efficiency.”
– Carol Tomé, UPS chief executive officer
“We’re excited to combine Estafeta’s proud, 45-year logistics legacy, and our expertise with that of UPS, a company that shares our values of service excellence, investing in people and community engagement. Today’s announcement is a testament to the hard work and dedication of our people and the trust of all our customers, vendors and suppliers across Mexico. This is the right time to accelerate our growth, and 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.”
– President and CEO of Estafeta Jens P. Grimm
