While XPO, Inc. as an entire entity has not been bought out, its North American intermodal business was acquired by STG Logistics in March 2022.
Understanding XPO's Business Transactions
XPO, Inc. (formerly XPO Logistics, Inc.) is a prominent American transportation and logistics company known for its extensive network. The term "bought out" typically refers to the acquisition of an entire company. In XPO's case, the company engaged in a strategic divestiture of one of its significant business units rather than being acquired as a whole.
The Acquisition of XPO's Intermodal Business
In a notable transaction, XPO, Inc. sold its North American intermodal business. This particular division, which handles the transportation of freight using multiple modes of transport without any handling of the freight itself when changing modes, was acquired by an Illinois-based logistics provider.
Here are the key details of the transaction:
- Acquiring Company: STG Logistics
- Acquired Asset: XPO's North American intermodal business
- Transaction Date: March 2022
- Transaction Value: $710 million
This sale allowed XPO to streamline its operations and focus on its core less-than-truckload (LTL) and brokerage services. For STG Logistics, the acquisition significantly expanded its presence and capabilities in the intermodal sector.
