As part of its ‘Better & Bolder’ strategy to become a premium international small package and logistics provider, UPS has announced it is to acquire leading Mexican express delivery company Estafeta.
The acquisition is an evolution of a commercial agreement established between the two companies in 2020 and is set for completion by the end of the year, subject to customary closing conditions and regulatory approval.
“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,” said Carol Tomé, UPS chief executive officer. “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.”
Jens P Grimm, president and CEO of Estafeta, added, “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 [July 22] 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.”