Atlanta-based shipping giant United Parcel Service, (UPS) is buying the assets of Mail Boxes Etc., (MBE) a subsidiary of San Diego-based US Office Products.
Terms of the cash transaction were not disclosed.
MBE, reputed to be the world’s largest franchisor of independently owned and operated business, communication and shipping centers with 4,300 locations in 29 countries, will operate as a UPS subsidiary. Jim Amos will remain as its president/CEO.
UPS, which last year reported revenue of $29.7 billion as the world’s largest shipper, has over 11,500 locations in more than 200 countries.
Although the takeover will not affect MBE’s franchisees, the two companies said in a joint announcement that the transaction, structured as an acquisition of assets, will lead to new opportunities for them in small business services, e-commerce and financial services, among others.
The announcement went on to say that the takeover would cement the strong relationship the two firms have had for more than 20 years.
Network
