London, UK: GXO Logistics has completed its acquisition of Wincanton, effective today (29 April). All conditions of the acquisition have been met and GXO is now the sole shareholder of Wincanton.
GXO and Wincanton will continue to be run independently until the Competition and Markets Authority (CMA) has completed its review.
GXO chief executive 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.”
GXO expects enable new and existing customers to benefit from a broader range of services and capabilities across an expanded global platform. The acquisition will expand GXO’s offering and customer base in several key growth sectors in the UK, including healthcare, aerospace, utilities, and industrial.
GXO expects that the combination will lead to full annual net run-rate cost synergies of £45m (pre-tax) by the third year of integration.
