UPS to acquire reverse logistics company
25 / 10 / 2023
UPS has entered into an agreement to acquire US-based software and reverse logistics company Happy Returns from PayPal.
According to UPS, Happy Returns aims to enable “frictionless, no-box, no-label returns for merchants and consumers” and reduce “the cost of e-commerce for all players and creating a more efficient, sustainable supply chain”.
The acquisition of Happy Returns is expected to close in the fourth quarter of this year.
“We know that returns have long frustrated shoppers and retailers looking for quick and easy solutions,” UPS chief executive Carol Tomé said. “By combining Happy Returns’ easy digital experience and established drop-off points with UPS’s small package network and footprint of close to 5,200 The UPS Store locations, box-free, label-free returns will soon be available at more than 12,000 convenient locations in the U.S.”
“Joining the UPS team is a win for both our employees and our customers,” said Happy Returns chief executive and co-founder David Sobie, who will continue to lead the business for UPS after the deal closes.
“In recent years, the growth of Happy Returns has accelerated, and we’ve built an enterprise-grade solution. This new chapter is a natural next step for Happy Returns and allows us to harness the power of the UPS network to transform the returns industry.”
Happy Returns offers a full stack of returns solutions, powered by software and fully scaled reverse logistics operations that aim to facilitate frictionless returns. Users can access a returns portal, make a box-free return at the most convenient location and have their item shipped, sorted and returned to the merchant.
The business has more than 800 merchant customers.
Terms of the acquisition were not disclosed.
Last month, UPS announced a deal to acquire time-critical logistics firm MNX Global Logistics.
