Sale of Chippenham logistics giant to GXO completes
GXO Logistics, the USA-based contract logistics provider, has completed its acquisition of Chippenham-headquartered Wincanton in a deal worth £762 million.
GXO Chief Executive Officer Malcolm Wilson, 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.”
The deal with GXO came after a previous offer in January from French multinational CEVA Logistics – part of the CMA CGM group – in a deal worth £566.9 million. But on the last day of February, GXO announced its intention to make a cash offer for 605 pence in cash per Wincanton share, which was accepted by the Wincanton Board the following day.
The acquisition will expand GXO’s offering and customer base in several key strategic growth sectors in the UK, including aerospace, utilities, industrial, and healthcare. Additionally, the complementary infrastructure and offerings will enable GXO to manage the combined company more efficiently, resulting in greater productivity and lower costs for the benefit of customers.