UPS Buys Reverse Logistics Company Happy Returns From PayPal
October 25 2023 - 5:10PM
Dow Jones News
By Denny Jacob
United Parcel Service agreed to acquire software and reverse
logistics company Happy Returns from PayPal.
Terms of the deal weren't disclosed.
The Atlanta-based company said the acquisition is expected to
close in the fourth quarter.
UPS Chief Executive Carol Tomé said that by combining Happy
Returns' digital experience with the package-delivery company's
small package network and brick-and-mortar locations, label-free
returns will soon be available at thousands of locations in the
U.S.
The disclosed acquisition comes nearly a month after UPS said it
would acquire MNX Global Logistics, bolstering its healthcare
products distribution operations. Financial terms of the deal also
weren't disclosed, but UPS said at the time the deal is expected to
close by the end of the year.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
October 25, 2023 16:55 ET (20:55 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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