The provided HTML code displays an image with a caption and two paragraphs of text.The provided HTML code displays an image with a caption and two paragraphs of text. The image is of a group of semi-trucks driving on a highway. It is attributed to FreightWaves and has a caption that reads: > UPS did not disclose the value or terms of the Estafeta acquisition. (Photo: Jim Allen/FreightWaves) The first paragraph of text describes UPS’s recent acquisition of Estafeta, a Mexican express delivery company. The acquisition is part of UPS’s Better and Bolder strategy to become the world’s leading international provider of small packages and logistics. The second paragraph provides more details about Estafeta. The company is headquartered in Mexico City and has 45 years of experience operating an extensive domestic network serving companies of all sizes. The HTML code includes a section with the ID “omeda-post-content”. This section contains a quote from Estafeta’s president and CEO, Jens P. Grimm, and additional information about the benefits of the acquisition for customers in Mexico. Overall, the HTML code provides a concise summary of the UPS acquisition of Estafeta, highlighting the strategic importance of the acquisition and the value it will bring to customers in Mexico.
UPS did not disclose the value or terms of the Estafeta acquisition. (Photo: Jim Allen/FreightWaves)
UPS (NYSE: UPS) announced Monday that it has entered into an agreement to acquire Mexican express delivery company Estafeta.
According to a UPS press release, this acquisition is a key part of the company’s Better and Bolder strategy, which aims to become the world’s best international provider of small packages and logistics.
“Global supply chains are changing, Mexico’s role in global trade is growing, and Mexican SMEs and manufacturing sectors are looking for reliable access to the U.S. market,” UPS CEO Carol Tomé said in the email. “There is no better way to capitalize on these trends than by combining UPS’s size and scale with Estafeta. As the shift to nearshoring continues, our combined company will provide customers in Mexico with unprecedented access to global markets with seamless service and greater efficiency.”
Headquartered in Mexico City, Estafeta is a privately held provider of integrated logistics solutions. The company has 45 years of experience operating an extensive domestic network serving companies of all sizes.
“We are excited to combine Estafeta’s proud 45-year logistics heritage and expertise with that of UPS, a company that shares our values of service excellence, investing in people and community involvement,” said Jens P. Grimm, president and CEO of Estafeta, in the press release. “Today’s announcement is a testament to the hard work and dedication of our people and the trust of all of 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 press release said that when the two companies combine, UPS’s integrated solutions that connect small packages, healthcare logistics and end-to-end supply chain solutions will be a boon to customers in Mexico.
The acquisition is expected to close by the end of the year, subject to regulatory approvals. The value and terms of the transaction were not disclosed. The transaction will be discussed further during UPS’s second-quarter investor conference call at 8:30 a.m. ET on Tuesday.
