Acquisition Adds Nearly $4 Billion in Revenue and New Market Opportunities
RXO loading docks in Laredo, Texas. (RXO via YouTube)
RXO has finalized its $1.025 billion acquisition of Coyote Logistics from UPS, a move that makes RXO the third-largest provider of brokered transportation in North America. The deal, announced June 23, closed Sept. 16.
UPS sold Coyote Logistics, a freight brokerage firm founded in 2006, as part of the package delivery giant’s strategy to focus more on its core small-package delivery business. UPS purchased Coyote in 2015 for $1.8 billion, but with the sale, UPS appears to be refocusing on what CEO Carol Tomé described as “premium small-package” services.
