UPS to Acquire Coyote Logistics
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UPS bolsters full-truckload business with $1.8 billion deal
July 31, 2015 11:53 AM EDTBy Sagarika Jaisinghani
(Reuters) - United Parcel Service Inc. said it would buy Coyote Logistics from private equity firm Warburg Pincus for $1.8 billion to expand its full-truckload services, the latest deal in a rapidly consolidating logistics industry.
Coyote Logistics connects customers to its network of more than 35,000 trucking operators in North America and caters to the food and beverage, consumer goods, paper and packaging, industrial as well as retail markets.
Brokers such as Coyote Logistics and XPO Logistics Inc have reported rapid revenue growth in the past few quarters... More
