UPS agrees to sell its freight-brokerage division for less than it paid for the business in 2015

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Carol Tome Nouvelles

Transportation And Shipping,NC State Wire,IL State Wire

UPS is selling its freight-brokerage business for less than it paid for the business back in 2015. UPS said Sunday it agreed to sell its Coyote Logistics division to RXO for just over $1 billion. UPS CEO Carol Tome says the sale will help her company focus on its core package-delivery business.

ATLANTA — United Parcel Service said Sunday it agreed to sell its Coyote Logistics division to RXO for just over $1 billion — less than it paid for the freight-brokerage company in 2015 — to focus more on its core package-delivery business.said it will update its financial outlook once the sale is completed.“the decision to sell our Coyote Logistics business allows an even greater focus on our core business.

Coyote had a network of more than 35,000 trucking companies at the time UPS bought it. UPS said Sunday that Chicago-based Coyote now works with 100,000 carriers and manages 10,000 loads per day.

 

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