UPS has recently announced that it will acquire truckload freight brokerage company Coyote Logistics for $1.8 billion. Coyote CEO Jeff Silver will continue to lead the company as a UPS subsidiary.
Pending customary conditions and regulatory approvals, closing expected in less than 30 days. The new addition to UPS is expected to add to earnings in 2016.
Coyote Logistics was founded in 2006 and headquartered in Chicago. More than 6,000 loads per day are arranged for transport. Arrangements are made within its network of more than 35,000 trucking companies. In 2014, the company reported annual revenue of $2.1 billion.
UPS and Coyote are no strangers to one another. During the holiday season, UPS supplements its fleet with contract transport providers to meet demand. Coyote is one of the companies that UPS has relied on for such support.
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