UPS declares its intent to buy Estafeta and plans to complete the deal by year’s end

UPS declared on Monday that it has reached a deal to buy Mexican package service business Estafeta, adding that the specifics of the deal, including its value and conditions, would not be made public at this time.

The deal is expected to conclude by the end of the year, subject to usual closing conditions and regulatory clearances, according to a statement from UPS.

It stated, «At this time, the transaction’s terms and value are undisclosed.»

According to the firm, the action is a crucial component of UPS’s «better and bolder» strategy, which aims to position the company as the leading global supplier of logistics and package services.

“Global supply chains continue to change, Mexico’s role in world trade is growing and Mexico’s 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,” said Carol Tomé, UPS president and chief executive officer, quoted in the document.