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Tuesday, March 19, 2024
March 19, 2024

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UPS to buy Coyote for $1.8 billion to ease peak cargo crunch

The Columbian
Published:

ATLANTA — United Parcel Service Inc. will buy Coyote Logistics in a $1.8 billion bid to jump into the freight brokerage business and improve its holiday-season shipping.

The deal could help generate additional revenue and savings of as much as $150 million, UPS said, as the company expands into the business of linking customers with thousands of haulers able to do the work. UPS could tap into Coyote’s network of 35,000 trucking companies for extra help during its crucial November-December peak season.

Acquiring a freight broker that doesn’t have its own vehicles is a departure for Atlanta-based UPS. The world’s largest package-delivery company operates a fleet of 100,000 vehicles spanning trucks to motorcycles.

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