UPS to Acquire Estafeta, Providing Powerful Global Logistics Solutions and Trade Opportunities for Customers in Mexico and Beyond
22 Juli 2024 - 10:10PM
Business Wire
Deal Helps Businesses of All Sizes Take
Advantage of Mexico Manufacturing Boom, Global Supply Chain Shifts,
and North American Trade Growth
UPS (NYSE: UPS) today announced that it has entered into an
agreement to acquire Estafeta, a leading Mexican express delivery
company. This acquisition is a key part of UPS's 'Better and
Bolder' strategy, aimed at becoming the world's premium
international small package and logistics provider.
“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,” said Carol Tomé, UPS chief executive
officer. “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.”
The acquisition is an evolution of a commercial agreement
established between the two companies in 2020. When the two
companies are combined, customers can rely on UPS’s integrated
solutions that link small package, healthcare logistics and
end-to-end supply chain solutions, creating a differentiated ‘One
UPS’ advantage.
“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,” said President and CEO of Estafeta Jens P. Grimm.
“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.”
The acquisition is targeted 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. The transaction will be further discussed on UPS’s
second quarter investor conference call at 8:30am ET on July 23,
2024.
About UPS
UPS (NYSE: UPS) is one of the world’s largest companies, with
2023 revenue of $91.0 billion, and provides a broad range of
integrated logistics solutions for customers in more than 200
countries and territories. Focused on its purpose statement,
“Moving our world forward by delivering what matters,” the
company’s approximately 500,000 employees embrace a strategy that
is simply stated and powerfully executed: Customer First. People
Led. Innovation Driven. UPS is committed to reducing its impact on
the environment and supporting the communities we serve around the
world. UPS also takes an unwavering stance in support of diversity,
equity and inclusion. More information can be found at www.ups.com,
about.ups.com and investors.ups.com.
About Estafeta
Estafeta is a Mexican, privately owned, socially responsible
provider of integrated logistics solutions, operating an extensive
domestic network to meet the supply chain needs of companies of all
sizes. Guided by its purpose statement: “Bringing people together
and connecting businesses moves us” and its values of safety,
service and efficiency, Estafeta embodies a proud 45-year logistics
legacy built by the talent of its people, the trust of its
customers, the collaboration with suppliers, and giving back to the
communities where the company operates. www.estafeta.com
[estafeta.com] #Estafetaparaloquetemueve
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UPS Media Relations: +1 404-828-7123 pr@ups.com Estafeta Media
Relations: rp@estafeta.com
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