XPO Logistics Acquires Norbert Dentressangle Shares
XPO Logistics Inc. announced it has acquired control of French logistics operator Norbert Dentressangle SA by acquiring the 67% ownership stake held by founder Norbert Dentressangle and his family.
XPO six weeks ago announced the $3.53 billion acquisition, an expansion into global markets for the Connecticut-based company. Plans to make a tender offer for the remaining shares was announced at the time of the purchase, which pushed XPO to a company with nearly a $9 billion annual revenue pace with its largest acquisition ever.
VIDEO: Early April interview with Brad Jacobs of XPO Logistics
“We’re delighted to welcome the customers, employees and suppliers of Norbert Dentressangle to XPO,” Bradley Jacobs, XPO’s CEO, said in a statement. “This combination is an important step in the continued execution of our growth strategy.”
REACTION: The Internet Reacts to $3.53 Billion Deal
Norbert Dentressangle is being rebranded as XPO Logistics. The buyer, which ranks No. 12 on Transport Topicss' Top 100 list of the largest U.S. and Canadian for-hire carriers, earlier this month announced a note sale and equity agreement to pay for the acquisition, which was the latest in a series of deals.
The combined company will have more than 50,000 workers at 862 locations in 27 countries.
