UPS has agreed to acquire reverse-logistics solution Happy Returns from PayPal for an undisclosed amount. The deal is expected to close in the fourth quarter of this year.
Happy Returns offers box-free, label-free returns for more than 800 merchant partners at over 10,000 locations across the U.S. including Petco, Hibbett, Ulta Beauty and Staples. The company was acquired by PayPal a little over two years ago as part of PayPal’s ambition to expand beyond payments and become a “digital commerce enablement engine.” However, since the ecommerce boom days of the pandemic, PayPal’s goals seem to have shifted. As competition in the digital payments sector has increases, PayPal’s stock is trading at near its lowest levels since it was spun off from Ebay in 2015.
