English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

XPO Logistics buys two more

GREENWICH, CT: XPO Logistics has purchased last-mile provider Atlantic Central Logistics (ACL) for US$36.5 million and announced an agreement to acquire contract logistics provider New Breed Holding Company for US$615 million.

New Breed had revenue of US$597 million and adjusted EBITDA of approximately US$77 million for the 12 months ending June 30, 2014.

The company was founded in 1968 and according to XPO has become a "pre-eminent provider of complex, industry-defining contract logistics services" under the chairmanship of Louise DeJoy who will become CEO of XPO's contract logistics business based in High Point, N.C.

New-Breed-HQNew Breed specializes in services for omni-channel distribution, reverse logistics, transportation management, freight bill audit and payment, lean manufacturing support, aftermarket support and supply chain optimization. Processing an average 275,000 orders a day and employing 6,800 people, its revenue renewal rate for the past three years has been a claimed 99 percent.

Bradley Jacobs, chairman and chief executive officer of XPO commented: "We're making a transformational move in acquiring New Breed – one that gives us critical mass and elevates our service offering. We'll be able to deliver integrated, end-to-end logistics solutions for any company, of any size, with any combination of transportation needs...When the transaction is complete, we'll have an IT workforce of more than twice its current size, and about 10,000 employees at over 200 locations."

Founded in 1980, ACL provides last mile logistics for the growing demand for e-commerce fulfillment by facilitating the time-sensitive, local movement of goods between distribution centers and the end-user. ACL had revenue of US$63 million and adjusted EBITDA of US$6.2 million for the 12 months ending June 30, 2014.

Karl Meyer, CEO of XPO Last Mile said: "The acquisition of ACL expands our presence in the high-growth e-commerce sector, where we manage more last-mile deliveries of heavy goods than any other logistics provider. ACL's delivery patterns complement those of XPO Last Mile, allowing us to leverage capacity as we increase our volume."

News

Written on 28/04/2017, 19:13
amazon-3rd-party-fulfillment-revenue-up-34-percentSEATTLE: April 28, 2017. Amazon has reported net income of US$724 million on sales of US$35.71 billion for the first quarter of 2017. Results for the...
Written on 27/04/2017, 19:19
ai-to-feature-at-transport-logistic-in-munichMUNICH: April 27, 2017. A survey of German logistics executives says 70 percent of respondents are investigating the use of artificial intelligence...
Written on 27/04/2017, 17:28
hapag-lloyd-best-shipping-line-brandBERLIN: April 26, 2017. Readers of "Logistik Heute" magazine and a panel of experts from the German Logistics Association (BVL), have recognized...
Written on 27/04/2017, 15:54
british-brands-hit-by-brexitLONDON: April 27, 2017. Valuation and strategy consultant Brand Finance says British brands have lost 6.0 percent of their value since the Brexit vote...
Written on 25/04/2017, 22:01
fraport-gets-cargo-and-greece-gets-1-2-billionFRANKFURT AIRPORT: April 24, 2017. The Fraport 'Speed Gate' at CargoCity South, where pallets are unloaded at four automated gates, security checked...
Written on 24/04/2017, 20:30
bank-deal-opens-maritime-green-doorLUXEMBOURG: April 22, 2017. The European Union's non-profit European Investment Bank (EIB) has signed a €150 million loan agreement with Dutch bank ABN...
Written on 21/04/2017, 19:44
air-cargo-volumes-rise-as-yields-remain-a-challengeGENEVA: April 20, 2017. IATA reports a slowing of air cargo volumes to a 1.3 percent rise in the three months to February 2017, compared to 2.3 percent...
Written on 21/04/2017, 18:40
u-n-cuts-cost-of-air-fleet-and-food-distribution-timesNEW YORK, NY: April 21, 2017. The United Nations is to cut its aircraft fleet and limit passenger flights to essential travel only, after revealing the...
Written on 19/04/2017, 20:20
benefits-to-outweigh-gothenburg-dredging-billGOTHENBURG, Sweden: April 18, 2017. A report by the Swedish Transport Administration (STA) says the SEK4.0 billion cost of deepening the approach to the...
Written on 18/04/2017, 19:37
siemens-to-set-up-logistics-head-office-at-expo-2020-dubaiMUNICH: April 18, 2017. Siemens is to base its logistics business for airports, cargo infrastructure and ports in Dubai and will move its headquarters to...
Written on 18/04/2017, 14:18
abu-dhabi-ports-provides-free-humanitarian-warehouseABU DHABI: April 18, 2017. Abu Dhabi Ports is providing the Emirates Red Crescent Authority (ERC) with a 550 square meter warehouse in Zayed Port as part...
Written on 13/04/2017, 19:11
emirates-sky-cargo-lifts-america-s-cup-challengerDUBAI: April 13, 2017. Bookmakers are giving America's Cup challenger Emirates Team New Zealand 3:1 odds to win the sailing competition when racing ends...
Written on 13/04/2017, 16:05
blockchain-used-in-pharma-supply-chainBEIJING: April 11, 2017. IBM and China-based supply chain manager Sichuan Hejia have launched the 'Yijian Blockchain Technology Application System', a...
Written on 12/04/2017, 18:10
k-n-and-alibaba-to-leverage-btb-ecommerceSHANGHAI: April 12, 2017. Kuehne + Nagel and Alibaba.com, the B2B business arm of the Alibaba Group, are combining their respective capabilities to offer...
Written on 12/04/2017, 16:58
dedicated-freighter-for-swiss-pharma-exportsMADRID: April 12, 2017. IAG Cargo has officially launched a weekly freighter service between Basel and Madrid to feed its Latin America network with Swiss...
Written on 11/04/2017, 20:15
miami-boosts-airfreight-traffic-eight-percent-by-valueMIAMI: April 11, 2017. The U.S. Department of Commerce says air cargo traffic through Miami International Airport (MIA) rose eight percent by value last...
Written on 07/04/2017, 22:03
u-s-roads-worse-than-namibiaWASHINGTON, DC: April 07, 2017. Testifying before the U.S. Senate Subcommittee on Surface Transportation and Merchant Marine Infrastructure, Safety and...
Written on 07/04/2017, 20:29
lng-bunkering-arrives-at-jacksonvilleJACKSONVILLE, FL: April 07, 2017. BBC Chartering has delivered two 260-ton cryogenic liquefied natural gas (LNG) storage tanks for Crowley Maritime's new...
Written on 06/04/2017, 23:00
air-cargo-upturn-will-it-lastGENEVA: April 06, 2017. IATA reports a 12 percent rise in freight tonne-kilometers in February compared to the same month last year - almost four times...
Written on 06/04/2017, 21:59
t-pod-designed-to-replace-swedish-trucksSTOCKHOLM: April 6, 2017. Swedish technology designer Einride has created an electric, self-driving “cargo with wheels” vehicle called a ‘T-pod’ that can...

- powered by Quickchilli.com -