Boeing 737 3Y0F Estafeta Carga Aerea AN2239613
UPS announced on July 22 that it agreed to acquire Estafeta, a Mexican parcel service company. This acquisition is a key part of UPS’s strategy to become the most significant Mexican parcel and logistics market player.
“Global supply chains continue to evolve, Mexico’s role in world trade is growing, and Mexican SMEs and manufacturing sectors are seeking reliable access to the U.S. market. There is no better way to capitalize on these trends than by combining UPS’s size and scale with Estafeta,” said UPS CEO Carol Tomé.
“As the shift towards nearshoring (moving factories from the home country to a nearby one with lower production costs) continues, combining our businesses will provide Mexican customers with unprecedented access to global markets through seamless and more efficient service”, she concluded.
This acquisition is the evolution of a commercial collaboration agreement established by the two companies in 2020. Once combined, customers can rely on integrated solutions that link parcel services, healthcare industry logistics, and supply chain solutions, creating a differentiated advantage of ‘One UPS.’
“We are excited to combine Estafeta’s proud 45-year logistical legacy and experience with UPS, a company that shares our values of service excellence, investment in people, and community involvement,” said Jens P. Grimm, CEO of Estafeta.
“Today’s announcement is a testament to the hard work and dedication of our people and the trust of all our customers and suppliers in Mexico. This is the right time to accelerate our growth. UPS will help connect our customers with new global opportunities and strengthen the connection of Mexico’s growing economy with the rest of the world”, he added.
The transaction is expected to close by the end of the year, subject to customary closing conditions and regulatory approvals. The value and terms of the transaction have not been disclosed at this time. Currently, Estafeta operates six Boeing 737-400 (F), connecting thirteen domestic destinations with Miami (MIA), USA.
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