UPS TO ACQUIRE THE MILES GROUP, LEADING BROKER ON SOUTHERN BORDER
United Parcel Service said it has reached agreement to purchase the Miles Group Inc., parent company of Rudolph Miles & Sons, the large customs broker serving the U.S. southern border.
Atlanta-based UPS said the deal will be a cash transaction, though it would not comment on terms. The acquisition is being done by UPS Full Service Brokerage, a UPS subsidiary that's seeking to expand the express carrier giant into full-service brokerage.
“This acquisition is being done on the basis of a platform for growth,” said a spokesperson for UPS. “Miles is a dominant player in a very important corridor, with well-established service.”
Rudolph Miles & Sons, founded in 1963, covers the entire Mexican and U.S. border with 11 offices, including affiliate Miles and Joffroy Inc. in California, and William F. Joffroy Inc. in Arizona. Offices are in San Diego and Calexico, Calif.; Nogales, Naco and Douglas, Ariz.; Albuquerque, N.M.; and El Paso, Eagle Pass, Laredo, McAllen, Brownsville, Texas.
The deal also includes Miles Transport/Distribution Inc., a logistics and warehouse provider, and another Miles affiliate, Herman Miles Trucking, which provides expedited less-than-truckload services.