UPS to buy Mexican delivery firm Estafeta

UPS to buy Mexican delivery firm Estafeta ‘as the shift to nearshoring continues’

Published July 24, 2024

United States shipping and logistics company UPS has reached an agreement to buy Mexican delivery firm Estafeta.

The Atlanta-based company announced the planned purchase on Monday but didn’t disclose how much it would pay to acquire Estafeta. However, during an investor conference call on Tuesday morning, UPS CEO Carol Tomé said that the price would be above US $1 billion.

The deal is expected to be completed by the end of the year, provided regulatory approval is forthcoming.

“This acquisition is a key part of UPS’s ‘Better and Bolder’ strategy, aimed at becoming the world’s premium international small package and logistics provider,” the company said in a statement.

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