Contract logistics provider GXO Logistics Inc. will acquire PFSweb Inc. for $181 million, adding expertise in direct-to-consumer e-commerce fulfillment for premium brands, the companies said.
After the expected closing of the deal in the fourth quarter, PFSweb will be removed from the Nasdaq Stock Exchange, and thenceforth operate as a division within GXO.
According to GXO, PFSweb will benefit from its new parent company’s scale, technology, and “significant capital resources.”
“Joining GXO represents a strong strategic next step for PFS, as well as a valuable conclusion to our strategic alternatives process,” Mike Willoughby, CEO of PFSweb, said in a release. “Since completing the sale of our LiveArea business to Merkle, we have worked diligently to strengthen PFS’ operational efficiency and multi-node fulfillment network. This transaction is a testament to the success of these efforts, as well as the world-class quality of our team and client base and we believe PFS will be a fruitful addition to GXO’s extensive platform.”
Irving, Texas-based PFS says it offers e-commerce fulfillment services as a third party logistics provider (3PL) to customers including L’Oréal USA, Champion, Pandora, Shiseido Americas, Kendra Scott, and the United States Mint. The company has 12 global locations including India, the U.K, Belgium, and Canada.
