On the Record · UPS
UPS acquisitions, on the record
The businesses UPS bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
Coyote (truckload brokerage business)Word for word“On September 16, 2024, we completed the divestiture of Coyote, for net proceeds of $ 1.002 billion.” 10-K for 2024 | divestiture | September 16, 2024 | $ 1.002 billion |
Frigo-Trans and Biotech & Pharma LogisticsWord for word“In January 2025, we acquired Frigo-Trans and Biotech & Pharma Logistics, an industry-leading, complex healthcare logistics provider based in Germany, for approximately $ 440 million.” 10-K for 2024 | acquisition | January 2025 | approximately $ 440 million |
EstafetaWord for word“The acquisitions of Frigo-Trans and related entities were completed during January 2025, and the acquisition of Estafeta is expected to close in the first half of 2025, subject to customary regulatory reviews and approvals.” 10-K for 2024 | agreed acquisition | first half of 2025 | — |
Happy Returns and MNX Global LogisticsWord for word“In 2023, we acquired Happy Returns, a technology-focused company that provides innovative end-to-end returns services, and MNX Global Logistics, a global time-critical and temperature-sensitive logistics provider.” 10-K for 2024 | acquisition | 2023 | — |
Andlauer Healthcare GroupWord for word“In furtherance of this strategy, we have continued to grow organically, making investments in facilities to expand our network, and inorganically, including through the acquisitions of Frigo-Trans in January 2025 and AHG in November 2025.” 10-K for 2025 | acquisition | November 2025 | — |
truckload brokerage business ("Coyote")Word for word“In 2024, we completed the divestiture of our truckload brokerage business ("Coyote").” 10-K for 2025 | divestiture | 2024 | — |
a business within SCSWord for word“In the second quarter of 2025, we completed the divestiture of a business within SCS.” 10-K for 2025 | divestiture | In the second quarter of 2025 | — |
reacquired development area rights for The UPS StoreWord for word“During 2025, we also reacquired development area rights for The UPS Store.” 10-K for 2025 | acquisition | 2025 | — |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Goodwill from acquisitions |
|---|---|---|
| 2016-12-31 | $547 million | $359 million |
| 2017-12-31 | $134 million | $72 million |
| 2018-12-31 | $2 million | $0 |
| 2019-12-31 | $6 million | $5 million |
| 2020-12-31 | $20 million | $0 |
| 2021-12-31 | $602 million | $375 million |
| 2022-12-31 | $755 million | $596 million |
| 2023-12-31 | $1.33 billion | $727 million |
| 2024-12-31 | $71 million | $4 million |
| 2025-12-31 | $1.97 billion | $1.34 billion |
Deal filings since 2016
- 2017-06-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-05-18 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
Read from UPS’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2026-02-17. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.