UPS TO ACQUIRE MAIL BOXES ETC.
United Parcel Service said Monday it will acquire Mail Boxes Etc., a subsidiary of U.S. Office Products, in a cash transaction.
Atlanta-based UPS and San Diego-based MBE said the deal will allow UPS to strengthen its position in the growing segment of electronic commerce, small and home business and residential customers.
The all-cash deal is expected to be completed within the next two months. MBE business will be conducted through a subsidiary of UPS, led by Jim Amos, president and chief executive officer.
MBE has more than 4,300 retail locations, including 900 centers in 29 countries around the world.
UPS TO ACQUIRE MAIL BOXES ETC.
