XPO Logistics Pares Acquisition List to ‘About a Dozen’ Targets
By Jennifer Smith | Updated Aug. 2, 2018 8:00 a.m. ET
XPO Logistics Inc. XPO +1.93% has pared its list of potential buying targets down to a dozen companies but says it’s not rushing to return to the acquisitions market that built the company into one of North America’s biggest logistics operators.
“We looked at about 250 different targets, and have winnowed it down to about a dozen that we’re in different levels of discussions with,” XPO Chief Executive Bradley Jacobs said in an interview. “We’re patient, we’re disciplined and focused on doing one or two deals that are likely to create immense shareholder value.”
Greenwich, Conn.-based XPO has grown rapidly by buying U.S. and European companies that specialize in trucking, freight brokerage and supply-chain services such as online fulfillment and warehouse management. But the company stepped back from deals in recent years as it focused on digesting acquisitions and adding new customers. Clients include IKEA, Cummins Inc. and Industria de Diseño Textil SA’s Zara.
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