LOUISVILLE, Ky. — Global shipping giant UPS has announced it will be selling Chicago-based Coyote Logistics for more than $1 billion.
Coyote Logistics is a leading third-party logistics provider and works with more than 100,000 network carriers and manages 10,000 loads per day.
The deal sends the business to RXO, Inc., a freight transportation company service based in Charlotte, North Carolina.
“As UPS positions itself to become the premium small package provider and logistics partner in the world, the decision to sell our Coyote Logistics business allows an even greater focus on our core business,” UPS CEO Carol Tomé said in a statement released Sunday.
The deal is expected to be finalized by the end of the year and UPS said it will help drive its “better and bolder” strategy.
Th deal is subject to regulatory review and approval.
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