News Details

UPS acquires Freightex to accelerate expansion of UK & European truckload brokerage business

 

UPS has announced the purchase of Freightex, a UK-based asset-light provider of truckload, less-than-truckload, specialised and refrigerated over-the-road services. The acquisition immediately establishes UPS’s presence in the growing UK and European third-party logistics (3PL) over-the-road brokerage transportation market and launches a new global and regional UPS growth platform from an established base of customers and carriers, said a release.

 

The transaction follows UPS’s acquisition of Coyote Logistics in August 2015. Coyote is a leading truckload brokerage provider in North America. Coyote and Freightex business models are complementary and UPS expects to share the best system technologies, business processes, as well as leverage customers and carriers across the two units, the release said.

 

"The UK and Europe are strategic 3PL freight brokerage growth markets for UPS and there is significant cross border opportunity," said Mr Alan Gershenhorn, UPS Chief Commercial Officer. "This acquisition provides UPS customers an immediate, knowledgeable and competitive UK and European presence. We intend to align Freightex with Coyote for greater efficiency and continue to invest for further growth."

 

Source: Exim News Service - Atlanta, Jan. 11

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