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- RXO Is Now the Third-Largest Freight Broker in North America
RXO Is Now the Third-Largest Freight Broker in North America
Image Source: RXO
RXO has completed its $1.025 billion acquisition of Coyote Logistics from UPS, solidifying its position as the third-largest brokered transportation provider in North America. The deal, initially announced on June 23, officially closed on September 16.
Today we are excited to announce that RXO has acquired Coyote Logistics, becoming the third largest freight broker in North America.https://t.co/oBgfIWmxTb pic.twitter.com/OxR5DkRZun— RXO (@rxoinc) September 16, 2024
Key Points
RXO bought Coyote Logistics from UPS for $1.025 billion
Deal closed Sept. 16, making RXO the #3 freight broker in North America
Adds nearly $4 billion in revenue to RXO's bottom line
Now that the acquisition is complete, here is what RXO gains:
Expanded customer base
Stronger carrier relationships
Improved network density
CEO Drew Wilkerson calls it a chance to "provide more capacity to customers and increase freight access for carriers."
Key Benefits
For Customers:
More shipping options
Denser network coverage
For Carriers:
More freight opportunities
Fewer empty miles
What's Next
Success hinges on smooth integration. RXO must merge Coyote's systems and workforce effectively to reap the full benefits.
"We're thrilled to welcome Coyote's employees, customers and carriers to RXO," says Wilkerson.
The freight world is watching. This deal could reshape how goods move across North America. Let the next chapter begin.
Source: Transport Topics
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