In December 2020,XPO, Inc. announced that it would spin off its global contract logistics segment into a separate company.[10] In March 2021, XPO announced the new name of the firm as GXO Logistics Inc.[11] The spin-off was completed on August 2, 2021,[3] with American businessmanBrad Jacobs named as Non-Executive Chairman, Malcolm Wilson as CEO; formerly the CEO of XPO, Inc. European division,[3] and Baris Oran as CFO.[12]
In May 2022, GXO announced the acquisition of the U.K.-based retail logistics company,Clipper Logistics.[13][14] Clipper distributes goods forMarks & Spencer,Morrisons andVirgin Media O2 and specialises inlife sciences,reverse logistics, andrepairs.[15][16] Reverse logistics are the movement of products from consumers back to retailers.[17] The acquisition was completed in October after final regulatory approval.[16] It expanded GXO’s presence into Germany and Poland, and added over 50 sites, 10 million square feet of warehouse space, and approximately 10,000 employees to the company.[16]
That same month, as part of its European expansion, GXO also opened 30 shared warehouse facilities in the U.K.[18] In May 2022, the company was named to the Fortune 500.[19] At the end of the fourth quarter, it reported that e-commerce revenue had risen 31% and reverse logistics revenue 19%.[20] By October 2022, GXO had opened 90 sites, signed 450 new customer contracts, and hired 15,000 people.[19]
In April 2023, GXO announced a partnership with Sainsbury, the U.K. supermarket chain, to manage fresh and frozen shipments at several warehouse sites.[21] In June 2023, the company signed a partnership agreement withZalando for a new, automated fulfillment center inMontereau-sur-le-Jard, located nearParis, France.[22] Also in June, GXO also announced a multiyear expansion program in Germany.[23]
The company had around 1,000 warehouses in June 2023.[24] In July 2023, GXO announced that Adrian Stoch was appointed to the new executive position of chief automation officer.[25][26]
In October 2023, GXO acquired U.S.-basedPFSweb, Inc., a tech-enabled eCommerce order fulfillment platform to expand its presence in North America.[27][28][29]
In March 2024, GXO's takeover offer ofWincanton PLC worth £762 million was backed by its board of directors.[30] The transaction was approved by the court on 25 April 2024, so allowing the take-over to be completed.[31]
By the end of 2022, the company had approximately 7,600 pieces of technology operational in customer sites.[32] This includedcollaborative robots, vision scanners,automated guided vehicles (AGVs) and goods-to-person robots.[32] In May 2023, GXO Direct announced thatBlue Yonder was a new warehouse software partner.[33]
Following the split in August 2021[update] fromXPO, Inc., GXO had approximately 94,000 employees and operated 869 warehouses with more than 208 million sq ft (19.3 million m2) of facility space across 27 countries.[3] GXO's contract logistics customers operate in technology[34] and infrastructure.[35] In 2023, GXO was the world’s largest contract logistics provider.[36]
GXO Direct is the shared services division of GXO Logistics. It was introduced in 2018 to provide an option for businesses who don’t require an entire warehouse for their products.[33] GXO Direct allows multiple customers to utilize one warehouse.[37] It is operational in the U.S. and Canada.[38] In March 2023, GXO Direct was expanded in the U.K.[39]
US$11.7 billion (2024)
US$218 million (2024)
