GREENWICH, Conn. — XPO Logistics, a global provider of transportation and logistics solutions, said Wednesday it had completed the rebranding of its North American less-than-truckload business, the second largest market provider of LTL transportation.
The rebranding aligns XPO’s LTL operations in North America with those in Europe, where the company has a large presence.
“The rebranding was an extensive undertaking that involved nearly 300 facilities, approximately 8,000 tractors and over 25,000 freight trailers, as well as uniforms for more than 14,300 drivers and dockworkers,” said Tony Brooks, president of the LTL business for XPO Logistics. “Our employees are proud to show the world that they are part of the global XPO team.”
XPO became a dominate player in the North American market when it purchased Con-way Inc. in a deal that was consummated in October 2015.
The transaction made XPO the second largest LTL provider in North America, expanded the company's global contract logistics, managed transportation and freight brokerage businesses, and added truckload transportation in North America.
All of the acquired operations — Con-way Freight, Menlo Logistics, Con-way Truckload and Con-way Multimodal — started operating under the single global brand of XPO Logistics.
Rumors in the trucking industry soon emerged that XPO really had no interest in maintaining a presence in the truckload market, but XPO held on to its truckload industry until last October, when the company announced that it had completed the sale of its TL business to TFI International, a Canadian-based North American provider of transportation and logistics services, operating across the United States, Canada and Mexico through its subsidiaries.
The deal was made for approximately $558 million in cash, subject to customary adjustments.
“TFI International is getting the 19th largest asset-based truckload carrier in the U.S., a highly experienced workforce, and a presence in the cross-border Mexico freight corridor,” Bradley Jacobs, chairman and CEO of XPO Logistics, said when the deal was announced. “We divested these assets to concentrate on growing our value to customers in the areas where we`re leaders in the industry: contract logistics, truck brokerage, less-than-truckload, last mile, intermodal, drayage, expedite and managed transportation.”
TFI International said in its 2016 annual report that the purchase further reinforces TFI as a leading player in the U.S. truckload market and expands its footprint in Mexico.
The purchase also completed a full circle turn of sorts.
TFI dubbed its newly-purchase TL business under the name CFI, which was the name the business had originally used until Con-way Inc. purchased it in 2007 and renamed it Con-way Truckload.
XPO Logistics is a top 10 global provider of supply chain solutions.
The company operates as an integrated network of people, technology and physical assets in 34 countries, with more than 89,000 employees and 1,431 locations.
XPO’s corporate headquarters is in Greenwich, Connecticut, and its European headquarters is in Lyon, France.
For more information, visit www.xpo.com.