GXO Completes Acquisition of UK-Based Wincanton
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GXO Logistics has completed its acquisition of the U.K.-based transport and logistics services company Wincanton, the company announced April 29.
The Greenwich, Conn.-based company said that all conditions for the acquisition have been met, and it is now the sole shareholder of Wincanton. Previous shareholders will be sent consideration of 605 pence ($7.58) May 13 for each share they hold. It will continue to be run independently until the U.K. Competition and Markets Authority has completed a review.
GXO ranks No. 5 on the Transport Topics Top 100 list of the largest logistics companies in North America.
“We are very pleased to complete this valuable acquisition for our company, which advances our position as the global pure-play logistics leader, and we look forward to welcoming Wincanton’s high-quality team to GXO,” CEO Malcolm Wilson said. “By combining Wincanton’s footprint and proven expertise in the U.K. and Ireland with our global reach and transformative technology, we can provide a wider range of services to new and existing customers across geographies — and accelerate our long-term growth trajectory.”
GXO believes the deal will create value for stakeholders by allowing customers to benefit from a broader range of services and capabilities across an expanded global platform. That includes expanding its own offerings and customer base in several key growth sectors in the U.K. That includes aerospace, utilities, industrial and health care.
We reached another milestone today: GXO's acquisition of @wincantonplc is complete! Both companies will operate separately until the UK’s CMA completes its review. https://t.co/PHXaeP5nCs — GXO (@GXOLogistics) April 29, 2024
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