Contract logistics provider GXO Logistics has completed the acquisition of Wincanton for £6.05 (US$7.58) per share, expanding its service offering in the UK and Ireland.
GXO and Wincanton will continue to be run independently until the UK Competition and Markets Authority (CMA) has completed its review.
According to GXO, the acquisition will enable new and existing customers to benefit from a broader range of services and capabilities across an expanded global platform. The acquisition will also expand GXO’s offering and customer base in several key strategic growth sectors in the UK, including aerospace, utilities, industrial and healthcare.
Malcolm Wilson, GXO chief executive officer, said, “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.
“By combining Wincanton’s footprint and proven expertise in the UK 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.”
Additional information on the transaction can be found on the dedicated transaction microsite at https://gxo.com/information-regarding-cash-offer-for-wincantonplc