Charlotte transport company makes $1 billion deal with UPS in expansion move
A Charlotte-based transportation company is expanding with a $1 billion acquisition that will make it the third-largest firm in North America operating as a brokered transportation company, meaning it arranges transportation with carriers on behalf of companies shipping goods.
RXO has agreed to buy Coyote Logistics, a supply chain and freight shipping company, from UPS in an all-cash transaction, the RXO said in a news release Sunday. The deal is expected to close by the end of the year.
The acquisition of Coyote Logistics will expand RXO’s carrier network and add about 15,000 customers, bringing its total customers to nearly 20,000, according to RXO.
RXO has about 8,400 employees, and Coyote Logistics employs about 2,500 workers, RXO spokeswoman Erin Kelly said. RXO did not disclose how many Coyote Logistics employees will be retained.
RXO employs about 800 workers in Charlotte, Kelly said.
About Coyote Logistics
Coyote Logistics is a third-party logistics provider that ships freight in truckloads, planes and cargo ships.
The Chicago-based company has 16 offices worldwide and handles 10,000 loads of freight per day. It specializes in food and beverage shipment.
About RXO
RXO provides supply chain management options such as coordinating transportation of goods through multiple carriers
RXO has 200 facilities across North America and Asia, according to its 2023 annual earnings report.
It specializes in shipment of retail, e-commerce and manufacturing goods. RXO generated $4 million in net income last year.
