(Gavin van Marle – The Loadstar)
Fast-growing US-based freight service provider XPO Logistics has revealed it has agreed terms to buy Norbert Dentressangle, one of Europe’s largest privately owned haulage and logistics companies for $3.53bn.
XPO Logistics chief executive Bradley Jacobs told The Loadstar this morning the deal had “catapulted” XPO into the premier league of global logistics, bringing a huge footprint in Europe, where it had previously only had a marginal presence, and significantly increasing its contract logistics business and doubling its freight forwarding revenues.
It also represents the first time that XPO has taken on ownership of its own assets. The company had previously preferred to limit acquisitions to asset-light contract logistics and last-mile providers, as well as consolidating the US’s highly fragmented truck brokerage segment. Click here to read more.