UPS to Buy Coyote Logistics for $1.8 Billion
ByUnited Parcel Service said on Friday that it would buy Coyote Logistics, a smaller transportation and logistics provider, for $1.8 billion in cash.
The nine-year-old Coyote is owned by the private equity firm Warburg Pincus.
The deal is intended to help bolster UPS’s presence in the freight brokerage business, which is expected to help the delivery company become more efficient in using its fleet of familiar brown trucks.
Coyote, which contracts with more than 35,000 trucking companies, garnered $2.1 billion in sales last year.
Coyote is no stranger to UPS, supplementing the delivery giant’s services during peak shipping times in the holiday season.
UPS said that it expected to generate $100 million to $150 million of annual operational cost cuts from the deal…
UPS to Buy Coyote Logistics for $1.8 Billion
