Thursday 16 September 2021

UPS Buys Two Costa Rican Companies

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UPS logo large 304United Parcel Service Inc. will expand in Costa Rica by buying small package delivery company Union Pak de Costa Rica and brokerage company SEISA Brokerage.

Financial terms were not disclosed, but the deals are expected to close in the fourth quarter.

Both companies have long worked with Atlanta-based UPS (NYSE: UPS) as authorized service contractors.

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“With the ownership of these operations in Costa Rica, UPS can provide customers the full suite of logistics services and global trade expertise,” said Romaine Seguin, president of the UPS Americas region.

UPS entered Costa Rica in 1990 and provides services there through UPS Air Cargo, and UPS Supply Chain Solutions. The International Monetary Fund projects the country’s annual import and export growth to grow an annual average of 7 percent over the next five years.

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