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9/2/2014 3:00:00 PM Write a Letter to the Editor Write a letter to the Editor

XPO Completes Acquisition of Logistics Firm New Breed

XPO Logistics

XPO Logistics said it has completed the acquisition of specialized logistics firm New Breed Holding Co. for $615 million.

The purchase adds about $597 million in revenue to XPO and $77 million in earnings before interest, taxes, depreciation and amortization.

With the acquisition, XPO said it expects to have full-year EBITDA earnings of at least $150 million and revenue of $3 billion.

New Breed provides logistics for industries with “high-growth outsourcing opportunities,” including aerospace, defense, telecom, technology and e-commerce, according to XPO.

The acquisition was financed with cash on hand and the proceeds from the sale of $500 million in senior notes.

Louis DeJoy, former CEO at New Breed, will head XPO’s contract logistics business after purchasing $30 million in restricted XPO stock.

“DeJoy will continue to lead the operation he has been instrumental in growing since 1983,” XPO said in a statement.

By Transport Topics

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