UPS Agrees to Acquire Coyote for $1.8 Billion
UPS Inc. announced it has agreed to buy truckload brokerage Coyote Logistics for $1.8 billion to expand its presence in the non-asset-based sector. The package carrier, which already has a small truckload brokerage as well as international brokerage and forwarding businesses, said in a statement that closing is expected within 30 days. Private equity company Warburg Pincus is selling the business that had $2.1 billion in sales last year and ranks No. 39 on the Transport Topics Logistics 50.