UPS has entered into an agreement to acquire Mexican express delivery company Estafeta, including a fleet of six aircraft.
The acquisition has been announced as Mexico becomes strategically more important to UPS and the use of nearshoring grows.
Estafeta's business include global express import and export with air service, document and parcel delivery to more than 220 countries and territories. The company has a team of specialised freight forwarders, plus its own fleet and network of business partners.
Estafeta's fleet includes six Boeing 737-400 freighters. Data from FlightRadar shows that the airline flies to destination within Mexico, plus Miami in the US. The company also has interline agreements in place to extend its network internationally. It additionally provides maritime, rail and trucking services.
Carol Tomé, UPS chief executive, said: “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. 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.”
The acquisition is an evolution of a commercial agreement established between the two companies in 2020. The acquisition is also a key part of UPS's 'Better and Bolder' strategy, aimed at becoming the "world's premium international small package and logistics provider".
“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,” said president and chief executive of Estafeta Jens Grimm.
He added: "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 acquisition is targeted to close by the end of this year, subject to customary closing conditions and regulatory approvals. The value and terms of the transaction have not been disclosed.
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