On May 24, 2022, GXO completed its offer to take over Clipper. However, both companies continued to be run independently pending completion of the regulatory review.
Thanks to its acquisition of Clipper, GXO shall gain more than 50 sites, 10 million square feet and 10,000 team members.
Moreover, it will have additional geographic presence in Germany and Poland, in the life sciences sector as well as expertise in premium services, including reverse logistics and repairs.
Commenting on the finalisation of the acquisition, Malcolm Wilson, GXO Chief Executive Officer, said:
“GXO and Clipper are both industry leaders and together, we’re even stronger. As one company, we expect to accelerate growth by expanding our geographic presence in key markets and verticals, bolstering our roster of blue-chip customers and enhancing the breadth of innovative warehouse capabilities we provide.”
Wilson added:
“We share a commitment to ESG, providing an exceptional customer experience and harnessing technology to improve efficiency, productivity and employee safety. Being a great fit culturally will underpin our future success and make for a seamless integration.”
GXO says it expects to realize significant productivity opportunities and cost synergies within two years from transaction close. The company states the integration process will begin promptly.
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