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Home » XPO Logistics Takes Over Last-Mile Specialist 3PD

XPO Logistics Takes Over Last-Mile Specialist 3PD

July 18, 2013
XPO

The transaction reflects an aggregate consideration of approximately $357m of cash and $8m of XPO restricted stock, and is expected to close in the third quarter of 2013, subject to Hart-Scott-Rodino clearance and customary conditions. The company has obtained a commitment from Credit Suisse Group for a $195m term loan, which together with cash on hand is sufficient to fund the transaction.

3PD, based in Atlanta and founded in 2001, provides retailers with customized solutions tailored to their supply chain needs, and serves small and mid-sized shippers by matching them to carriers on a transactional basis.

Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said, "Our acquisition of 3PD advances our strategy for rapid, disciplined growth in non-asset transportation logistics. 3PD is the clear market leader in the heavy goods, last-mile delivery space - an extremely fast-growing segment that serves blue chip retailers, e-commerce companies and smaller retailers."

Source: XPO Logistics Inc.

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KEYWORDS 3PL Business Strategy Alignment Global Supply Chain Management last-mile logistics Logistics logistics & supply chain logistics management Logistics Outsourcing logistics services Pharmaceutical/Biotech Retail retail supply chain Supply Chain Analysis & Consulting supply chain management: transportation and distribution Third-Party Logistics Transportation & Distribution XPO
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