XPO Logistics Wraps Up Acquisition of Pacer International
By: XPO Logistics Inc. April 08, 2014
XPO Logistics Inc. has completed its acquisition of Pacer International Inc.
The cash-and-stock transaction is valued at approximately $335m, XPO said. Bradley Jacobs, chairman and chief executive officer, said the deal “makes us a major player in the fast-growing intermodal sector, and the largest intermodal provider in cross-border Mexico.” Former Pacer CEO Daniel Avramovich has taken on the job of XPO’s senior vice president of strategic development. XPO’s contractual arrangements with rail carriers provide access to more than 60,000 miles of rail routes, the company said. It controls some 17,000 containers and has access to more than 100,000 additional boxes. The majority of the company’s intermodal services will be rebranded as XPO Logistics. XPO has some 400 trucks under exclusive contract, and more than 24,000 relationships with carriers for additional capacity.