UPS to Buy Mexican Delivery Company Estafeta

UPS to Buy Mexican Delivery Company Estafeta

UPS announced an agreement to acquire Estafeta, a nearly 50-year-old Mexican delivery company. This acquisition is part of UPS's "Better and Bolder" strategy to become the world's leading provider of international small package and logistics services.

The acquisition, expected to close by the end of 2024, includes Estafeta's fleet of six Boeing 737-400 freighters, along with their maritime, railway, and trucking operations.

UPS CEO Carol Tomé sees the acquisition as a strategic move amidst a shift in global supply chains. "Mexico's role in global trade is growing," Tomé said, "and this combination will give Mexican businesses unprecedented access to global markets with improved efficiency."

Estafeta President and CEO Jens Grimm echoed this sentiment, highlighting the complementary nature of the two companies. "We are excited to combine Estafeta's experience with UPS's expertise," Grimm said. "This will allow us to connect our customers to new global opportunities and strengthen Mexico's economic ties with the world."

Financial details of the agreement have not been disclosed.