XPO Logistics has completed its $365 million previously announced acquisition of 3PD.
“Our acquisition of 3PD gives us immediate leadership in the heavy goods, last-mile space – an underpenetrated market for logistics with an exciting growth trajectory,” XPO’s chief executive officer, Brad Jacobs, said in a statement. “We welcome 3PD’s customers, carriers and employees, all of whom will benefit from the combined resources of our larger organization.”
XPO has seen rampant growth lately by way of acquisitions, but Jacobs said the company is also emphasizing growing organically by opening new offices. Boosting its new last-mile program, as well as promoting growth in national and strategic accounts, is also important for the company moving forward.
“We’re right on plan for our long-term goal of creating a world-class 3PL with several billion dollars of revenue and several hundred million dollars of EBITDA,” he said. - Jon Ross