Clipper Logistics agrees takeover worth nearly £1bn

A UK logistics firm which handles orders for some of Britain’s largest retailers has agreed to a possible buy-out deal worth around £940 million from GXO Logistics.

Clipper Logistics, which provides warehousing services for Marks & Spencer, Asda, John Lewis, Morrisons, ASOS, Farfetch, and H&M, has not been given a firm offer by the US logistics firm but has “reached an agreement on the key terms of a possible cash and share offer”.

GXO, a spin-off from XPO Logistics, describes itself as the largest pure-play contract logistics provider in the world. The company, which is listed on the New York Stock Exchange, is worth $9.3 billion.

Clipper Logistics also operates in Poland, Germany, Ireland, the Netherlands, and Belgium.

For the year ended 30 April 2021, Clipper generated revenue of £696 million and an underlying EBITDA of £43 million.

    Share Story:

Recent Stories

Find out how HULFT can help you manage data, integration, supply chain automation and digital transformation across your retail enterprise.
Talking shop: retail technology solutions from Brother
Retail Systems editor Peter Walker sits down with Brother’s senior commercial client manager Jessica Stansfield to talk through the company’s solutions for retailers and hospitality businesses, what’s new in labelling technology, and the benefits of outsourcing printing.