UPS Acquires Stolica

UPS has announced its decision to acquire Messenger Service Stolica, one of the leading express delivery companies in the Polish market. UPS expects to finalize the transaction in the early second quarter of 2005, subject to the fulfillment of required formal conditions.

– This is an ideal acquisition for us, both strategically and operationally – stated Wolfgang Flick, President of UPS Europe. – Messenger Service Stolica is a well-established company, and its network and capabilities will help UPS efficiently handle shipments to, from, and within Poland. UPS’s revenue in Poland is growing, and now we will be even better prepared to support companies in Poland with their domestic and international trade needs.

UPS will purchase Stolica’s shares from the company’s three founders and from Enterprise Investors Polish Enterprise Fund IV, which holds a 43 percent stake in the courier company.