UPS recently announced that it has agreed to acquire Happy Returns from PayPal. Happy Returns is a U.S.-based software and reverse logistics company which enables frictionless, no-box, no-label returns for merchants and consumers.
Happy Returns offers a full stack of returns solutions powered by software and fully scaled reverse logistics operations that facilitate frictionless returns.
In just a few simple steps, 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. With over 800 merchant customers, Happy Returns has a strong track record of providing hassle-free, no-box returns, reducing the cost of e-commerce for all players, and creating a more efficient, sustainable supply chain.
The deal for Happy Returns is expected to close in the fourth quarter of 2023, subject to customary conditions and regulatory approvals. The terms of the acquisition were not disclosed.
KEY QUOTES:
“We know that returns have long frustrated shoppers and retailers looking for quick and easy solutions. 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.”
— UPS CEO Carol B. Tomé
“Joining the UPS team is a win for both our employees and our customers. 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 CEO and co-founder David Sobie, who will continue to lead the business for UPS after the deal closes
