GXO

The acquisition of Chippenham, UK-based Wincanton, a supply chain solutions services provider across myriad vertical markets, by Greenwich, Conn.-based global contract logistics services provider GXO Logistics, has gone from pending to completed, GXO announced today.

The pending acquisition of Chippenham, UK-based Wincanton, a supply chain solutions services provider across myriad vertical markets, by Greenwich, Conn.-based global contract logistics services provider GXO Logistics appears to remain on track, according to a “scheme of arrangement” recently issued by Wincanton.

Following a previous announcement that Greenwich, Conn.-based global contract logistics services provider GXO Logistics made a $965 million cash offer to acquire Chippenham, UK-based Wincanton, a supply chain solutions services provider across myriad vertical markets, it appears that Wincanton is receptive to the offer.

Greenwich, Conn.-based global contract logistics services provider GXO Logistics said earlier today it has made an offer to acquire Chippenham, UK-based Wincanton, a supply chain solutions services provider across myriad vertical markets. GXO said it has made a $965 million cash offer for Wincanton.

GXO officials said that with PFSweb in the fold it will expand GXO’s offering in high-growth verticals, including cosmetics and luxury goods, across North America and Europe by leveraging PFSweb’s relationships with more than 100 brands.

Under the terms of the agreement outlined by GXO, GXO and PFS entered into a definitive agreement in which GXO will acquire PFS for $7.50 per share which it said represents an equity value of around $181 million.

GXO will operate Heineken UK’s warehouse, distribution and secondary transport network to retail and wholesale outlets across the U.K., as well as exclusively to Heineken’s entire U.K. pub estate—Star Pubs & Bars. GXO said this network manages more than 500,000 deliveries per year to more than 8,000 customers from point of production to retail and wholesale delivery.

Second quarter revenue rose 12% annually to $2.3 billion, for a new company record. And the company reported $25 million of net income attributable to GXO, down from $37 million a year ago, and $158 million of adjusted EBITDA. Adjusted earnings per share came in at $0.49, topping Wall Street expectations of $0.44. Operating income came in at $42 million, up 14% year over year compared with $37 million for the first quarter 2022.

London-based retailer Sainsbury’s said this week it has tabbed Greenwich, Conn.-based global contract logistics services provider GXO Logistics to operate all of the company’s outsourced food warehouses, for fresh and frozen food products, throughout England.

Second quarter revenue saw a 15% annual increase, to $2.2 billion. Net income came in at $51 million, topping the second quarter of 2011 by 78%. Adjusted EBITDA—at $176 million—topped the $161 million recorded a year ago.

Greenwich, Conn.-based freight transportation services provider XPO Logistics said it has established a new name for its truck brokerage and asset-light transportation units, in the latest step of its spin-off processes over the last several months. The new company will be named RXO, which XPO said will reflect its commitment to providing shippers with “reliability multiplied by outperformance,” with a corporate tagline of “Massive capacity. Cutting edge technology.”

GXO reported that first quarter revenue saw a 14% annual gain, to $2.1 billion. Net income came in at $38 million, for a 44.8% annual gain, and operating income—at $37 million—was up 19% annually. Adjusted EBITDA, for the quarter, was $155 million, for a 15% annual gain.

Taking further steps to “unlock value” for its stakeholders, Greenwich, Conn.-based truckload and less-than-truckload (LTL) services provider XPO Logistics said yesterday it plans to spin off its North American truck brokerage from its less-than-truckload business, as well as its related asset-light businesses. What’s more, XPO also announced it plans to divest its XPO Europe business and is also in exclusive negotiations with a buyer for the sale of its North American intermodal business.

Earlier today, the boards of directors of Greenwich, Conn.-based global contract logistics services provider GXO Logistics Inc. and London-based Clipper Logistics plc, a provider of omni-channel retail logistics services, said that they have come to terms on a recommended cash and share acquisition, in which Clipper will be acquired by GXO.

Following a news leak, which indicated that Greenwich, Conn.-based global contract logistics services provider GXO Logistics was acquiring London-based Clipper Logistics plc, a provider of omni-channel retail logistics services, the companies said on February 20 that their respective boards announced in a joint statement “they have reached agreement on the key terms of a possible cash and share offer for Clipper by GXO.”