United Parcel Service staked its claim to the forwarding and customs brokerage business Thursday when it closed on its acquisition of Fritz Cos., and revealed that it had also acquired a stable of smaller customs brokerage companies specializing in trade with Canada and Mexico.
Those companies will be combined with Fritz and UPS’s existing freight forwarder business in a new, as yet unnamed unit, with an estimated $750 million in annual revenue.
Read MoreUnited Parcel Service Inc. has acquired the Bellevue-based IShip.com unit of Stamps.com Inc. for an undisclosed amount.
Read MoreUnited Parcel Service acquired Fritz for $450m by the issue of 7.4m ‘B’shares in UPS.
Read MoreUnited Parcel Service of America Inc. has been a quiet company, steadily increasing its business through new technology but rarely calling attention to its efforts. That stance has masked one of the most technologically advanced IT operations in the Fortune 1000.
Read MoreIn response to the proposed Americas Free Trade Agreement, UPS is currently concentrating its efforts in nine Latin American countries in preparation for an expected up swing in international freight traffic.
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