• Swindon & Wiltshire M&A, deals
• Tuesday April 30 2024
• Author Name: Peter Davison

US logistics giant completes £762 million purchase of UK counterpart Wincanton

US logistics giant GXO has completed the purchase of Chippenham-based haulier Wincanton.

Wincanton will continue to be run independently until the UK Competition and Markets Authority has completed its review.

CEO James Wroath and CFO Tom Hinton are expected to remain on the board.

The US company made its £762 million bid for Wincanton in February following a bid made by the French operator CEVA Logistics UK Rose for £604.7 million.

The board had initially recommended CEVA’s bid to shareholders before GXO’s larger bid was tabled.

Malcolm Wilson, CEO at GXO, 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.”

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