GXO Logistics, Inc. has finalised its acquisition of Wincanton plc. The completion of the acquisition, effective immediately, positions GXO as the sole shareholder of Wincanton. Shareholders of Wincanton are poised to receive consideration of 605 pence per share, with the scheme record time set at 6:00 p.m. BST on April 26, 2024.

Malcolm Wilson, CEO of GXO, voiced his satisfaction with the acquisition, stating: “We are very pleased to complete this valuable acquisition for our company, which strengthens our position in the UK logistics sector.”

Wilson underscored the potential benefits of the acquisition, highlighting the opportunity to integrate Wincanton’s UK and Ireland expertise with GXO’s global reach and technology. This strategic alignment, he believes, will enable the provision of a broader range of services to customers across the UK, facilitating accelerated long-term growth in the region.

Anticipated benefits include expanded service offerings and an increased customer base in key UK sectors such as Aerospace, Utilities, Industrial, and Healthcare. Moreover, synergies between the two companies are projected to yield significant annual net run-rate cost savings of £45 million (pre-tax) by the third year of integration.