Brad Jacobs, the executive chairman of less-than-truckload carrier XPO Inc., announced on Dec. 11 he plans to target the building products industry in his latest business venture.

Less-than-truckload carrier XPO Inc. has agreed to pay $870 million for 26 owned terminals and two leased properties that previously were operated by Yellow Corp., emerging as a top bidder in the managed sale of the bankrupt LTL carrier’s assets, court documents show.  

Less-than-truckload carrier XPO Inc. has agreed to pay $870 million for 26 owned terminals and two leased properties that previously were operated by Yellow Corp.

Brad Jacobs, the billionaire who founded XPO Logistics Inc., is creating a publicly listed company designed for multiple acquisitions and funded with $1 billion, mostly from Jacobs himself. Jacobs has not yet said what industry he plans to expand into with his new venture. 

Brad Jacobs, the billionaire who founded XPO Logistics, is creating a publicly listed company designed for multiple acquisitions and funded with $1 billion, mostly from Jacobs himself.

RXO Chief Strategy Officer Jared Weisfeld discussed what it was like to launch a new company amid a freight market downturn on RXO’s one-year anniversary Nov. 1.

XPO posted an increase in revenue but a dip in profit during the third quarter amid a challenging freight environment, the company said Oct 30.

XPO saw second-quarter net income and revenue decline, but the company sees momentum headed into the third quarter.

GXO Logistics, the contract logistics provider that was spun off two years ago from its parent company XPO, reported stronger-than-expected second-quarter results on Aug. 2.

XPO has completed the expansion of one of its service centers near Atlanta in an effort to grow capacity in the area, the company announced July 13.