UPS has completed its US$1.8 billion acquisition of truckload freight brokerage company Coyote Logistics.
The UPS portfolio will benefit from Coyote’s large-scale full-truckload and other transportation management services. Other benefits include synergies in purchased transportation, backhaul utilization, cross-selling to customers, technology systems and industry best practices, according to UPS.
“Coyote is a transportation and logistics innovator which has changed traditional business models to serve their customers in a new, unique and more satisfying ways,” said David Abney, CEO of UPS. “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.”
Coyote will be operating as a wholly owned subsidiary of UPS, and its CEO, Jeff Silver, will be reporting to Alan Gershenhom, chief commercial officer of UPS.