UPS Chips In $96.5 Million For UK Firm

The package shipper will acquire UK-based independent parcel carrier LYNX Express in an all-cash deal.

UPS has announced its acquisition of privately-held LYNX Express in the United Kingdom. The move gives the Atlanta-based package shipper an expanded presence in the UK market. LYNX had annual sales of $295 million USD during its last fiscal year.

Other divisions of the LYNX business include a spare parts logistics section called Partsflow and a postal management business called Mail. While UPS has an obvious interest in the parcel delivery business, it is not known what ongoing interest the company has in the other divisions.

Like many firms, UPS has begun looking abroad for more opportunities to expand its business. Earlier this month, the company announced it would provide express delivery service across most of the country by September.

UPS has increased its weekly and daily flights in and out of China, and has established more than 40 warehouse and distribution centers near Chinese commercial centers.

That globalization has been profitable for UPS. Its earnings grew 22 percent in its fiscal second quarter, as international package revenue hit $2 billion. Export volume from China nearly doubled during the period, too.

During the second quarter, UPS added a Europe to US flight leg to better improve its next day service offerings, the company said in a statement.

David Utter is a staff writer for Murdok covering technology and business. Email him here.