UPS is set to acquire Estafeta, a leading Mexican express delivery company, as part of its ‘Better and Bolder’ strategy to become the world’s premium international small package and logistics provider. The acquisition will provide customers in Mexico with access to global markets through seamless service and greater efficiency.
According to UPS CEO Carol Tomé, the combined business will capitalize on trends such as nearshoring and the growing role of Mexico in global trade. The two companies have had a commercial agreement since 2020, which has now evolved into an acquisition.
Estafeta’s President and CEO Jens P. Grimm expressed excitement about combining the company’s legacy with UPS’ expertise and values. The transaction is expected to close by the end of this year, subject to customary closing conditions and regulatory approvals. The value and terms of the deal are not being disclosed at this time.
The acquisition is a testament to Estafeta’s 45-year history of providing logistics solutions to companies of all sizes in Mexico. UPS aims to connect customers to new global opportunities and strengthen Mexico’s growing economy’s connection to the rest of the world. The transaction will be further discussed on UPS’ second quarter investor conference call at 8:30am ET on July 23, 2024.
About Estafeta
Estafeta is a Mexican, privately owned company that provides integrated logistics solutions through its extensive domestic network. With a proud 45-year legacy built on values of safety, service, and efficiency, Estafeta aims to ‘bring people together’ and connect businesses through its purpose statement. For more information, visit www.estafeta.com.
Source: UPS
