Boxc, a family-owned logistics company, is being acquired by UPS, the company announced Monday.
The company, founded in 1973, provides shipping, warehousing and freight services to customers in all 50 states, Puerto Rico, the U.S. Virgin Islands, Guam and the U-S.
It also provides logistics services for large companies like Walmart, Target and Amazon.
The announcement was made in a statement to The Associated Press by the company’s chief executive officer, Michael C. Box.
UPS has been providing logistics services to Boxc since 2008, and the company has been in continuous operations since 2003.
The acquisition of Boxc is the latest acquisition in the rapidly expanding logistics industry, and follows the recent sale of General Electric’s logistics business, General Mills, to Walmart.
In a press release, UPS said it is adding about 5,000 jobs in the U.-S.
and Puerto Rico to its U.K.-based logistics workforce.
The company has approximately 40 employees on the island of Puerto Rico.
Boxc will remain in business on the mainland and in the company, according to the company.
It will be the second UPS-owned and operated logistics business to be acquired in less than two years, after it purchased Sysco for $9.5 billion in 2012.
UPS is expected to sell its shipping operations to Amazon later this year.