Posted on October 2, 2023
UPS Inc. said Thursday it has agreed to acquire MNX Global Logistics, a California company that specializes in time-critical shipments, notably in the health care field.
The transaction, terms of which were not disclosed, is expected to close by the end of the year. MNX will function under the UPS Express Critical umbrella. UPS Express Critical, in turn, operates under the UPS Supply Chain Solutions business unit.
MNX will initially operate under its existing brand and CEO John Labrie will continue to run the company, according to a UPS (NYSE: UPS) spokesperson.
MNX, based in Long Beach, California, was founded about 50 years ago to handle the time-sensitive deliveries of film to movie theaters. Over the decades, it branched out into other industries such as health care and aerospace, managing urgent deliveries of specialized commodities like organs bound for transplant. It continues to operate in the movie business, however.
MNX, which operates in 190 countries, manages the transportation and distribution of specialized cargo. It does not own any aircraft and typically uses commercial and charter airlift to transport goods in its control. The acquisition will provide MNX with access to UPS’ global air fleet, the spokesperson said.
UPS’ geographic coverage of such specialized cargo extends to the U.S. and Europe.
UPS is already a major player in clinical trials logistics through its Marken subsidiary. UPS Healthcare has established a strong position in time-sensitive, temperature-controlled health care logistics.
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