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UPS buys Coyote for $1.8B to cure holiday blues

2015-07-31 22:10:26| Trucking - Topix.net

United Parcel Service Inc. said it agreed to buy shipping-services provider Coyote Logistics LLC for $1.8 billion, which would expand its presence in the burgeoning freight-brokerage business and help it handle the volatility of its peak holiday season. UPS, which is acquiring Coyote from private-equity firm Warburg Pincus LLC, said Friday that it expects the addition to eventually boost profits by $100 million to $150 million and start adding to earnings in 2016.

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