The parcel giant announced yesterday it officially closed on the acquisition of Coyote Logistics for $1.8 billion.
UPS announced yesterday it officially closed on the $1.8 billion acquisition of Coyote Logistics, a non-asset-based provider of transportation services. Coyote now operates as a wholly owned subsidiary of UPS.
UPS said it expects to benefit from synergies in purchased transportation, backhaul utilization, cross-selling to customers, technology systems and industry best practices.
Earlier this month, American Shipper reported in detail on the acquisition, which is said to be UPS’ single largest acquisition and the largest deal ever for a pure freight brokerage.
“Coyote is a transportation and logistics innovator which has changed traditional business models to serve their customers in new, unique and more satisfying ways,” UPS CEO David Abney said in a statement. “We will provide our combined customer base with a portfolio of seamless supply chain solutions from multi-modal freight shipments to small-package delivery. We are excited to welcome the talented Coyote team to UPS.”
Headquartered in Chicago, Ill., Coyote arranges transportation for more than 6,000 loads per day for shippers of all sizes and industries.
UPS completes Coyote acquisition
