Last week the government green-lit a deal for GXO Logistics to acquire the entire share capital of logistics giant Wincanton, which is headquartered at Methuen Park in Chippenham.
On Monday, April 29, the US buyer confirmed it has now completed this acquisition.
GXO’s 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 .
Wincanton is a leading UK logistics supplier (Image: Wincanton)
“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 bosses believe the takeover will allow them to expand their UK offering and customer base in several areas, including aerospace, utilities, industrial, and healthcare.
Wincanton directors announced their intention to recommend accepting the £762 million cash offer, which works out to 605 pence per share, following a short bidding war.
GXO and Wincanton will continue to be run independently until the UK Competition and Markets Authority has completed its review of the deal.
