Mexico News (MNB) – UPS announced its intent on Monday to acquire the Mexican company Estafeta, with the goal of becoming the world’s premier international provider of package and logistics services. This strategic move aims to leverage the shifting global supply chains and Mexico’s burgeoning role in international trade.
“Global supply chains continue to shift, Mexico’s role in global trade is growing, and the Mexican SME 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 the size and scale of UPS with Estafeta,” stated UPS President and CEO Carol Tomé. She highlighted the increasing trend toward nearshoring, where businesses move their operations closer to their primary markets, as a significant driver for this acquisition. Tomé emphasized that the merger would provide Mexican customers with unprecedented access to global markets, ensuring a more seamless and efficient service.
The value and terms of the acquisition remain undisclosed. The deal is expected to close by the end of the year, subject to customary closing conditions and regulatory approvals. This acquisition builds upon a commercial agreement established in 2020 between UPS and Estafeta, designed to enhance the competitiveness of Mexican SMEs following the entry into force of the USMCA. This agreement initially launched at 160 Estafeta contact points.
Estafeta’s President and CEO Jens P. Grimm expressed his enthusiasm about the potential of this acquisition. “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 to new global opportunities and strengthen the connection of Mexico’s growing economy to the rest of the world,” said Grimm. He praised the alignment in values between the two companies, particularly their shared commitment to service excellence, investment in their workforce, and community involvement.
For both UPS and Estafeta, this acquisition represents a significant milestone in their histories. UPS, with its vast global network, sees this as an opportunity to further cement its presence in the Mexican market, providing enhanced logistics solutions that cater to the dynamic needs of Mexican SMEs and manufacturers. Estafeta, with its 45 years of experience and proud logistics legacy, views this merger as a critical step toward accelerating its growth and connecting its customers to new global opportunities.
As the deal progresses toward completion, industry experts will closely watch how this merger influences the logistics and package delivery landscape in Mexico and beyond. The acquisition is expected to bring about positive changes for customers, suppliers, and the broader market, enhancing the efficiency and reach of logistics services available in Mexico.
This announcement comes at a pivotal time for the logistics industry, with the global supply chain experiencing significant changes and challenges. The partnership between UPS and Estafeta is poised to address these challenges head-on, providing robust solutions and paving the way for a more connected and efficient global trade network.