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.
