XPO Logistics to Buy 3PD for $365 Million

XPO Logistics said Monday it has agreed to buy supply chain services company 3PD Inc. for about $365 million.

3PD is the largest non-asset, third party provider of heavy goods, last-mile logistics in North America, XPO said in a statement, adding that “the acquisition is expected to be immediately and significantly accretive to [its] earnings.”

The deal is expected to be complete later this quarter, XPO said. It has obtained a commitment from Credit Suisse Group for a $195 million term loan to help fund the deal.

3PD, Atlanta, was founded by Karl and Randy Meyer in 2001 to capitalize on rapid growth in the last-mile logistics segment serving retail shippers.