UPS said Wednesday it plans to purchase a package delivery company and a customs brokerage in Costa Rica that previously worked for it under contract.
The world's largest package delivery company said that by having more control of the Costa Rican operations it can better connect the Central American country's shippers to its global transportation network and provide a consolidated service option, including warehousing and distribution.
Union Pak de Costa Rica is a courier that caters to high-tech and medical device makers. SEISA Brokerage provides customs clearance and package delivery within the Costa Rican Free Trade Zone.
Atlanta-based UPS has operated in Costa Rica since 1990. The International Monetary Fund estimates Costa Rican trade will grow 7 percent per year, on average, during the next five years.
UPS said it expects to complete the transaction in the fourth quarter.
Terms of the deal were not disclosed.
UPS has recently made several tuck-in acquisitions, including the purchase of a pharmaceutical logistics company in Hungary, an express delivery company in Vietnam and two distribution centers in China. - Eric Kulisch