GXO, a contract logistics provider, agreed to acquire PFSweb, a tech-enabled eCommerce order fulfillment platform, for $142m. “PFS is an ideal acquisition for GXO: it enhances our exposure to new high-growth verticals in North America and adds important capabilities to our offerings. Over the past 25 years, the PFS team has established a successful track record in both direct to consumer and B2B channels, and they’ve built a rock-solid reputation with many of the world’s most iconic brands by deploying an order fulfillment platform that rivals the largest enterprise 3PL providers in the industry. We’re excited to bring them on board and look forward to driving additional shareholder value through disciplined capital allocation and continued investment in high growth opportunities," Malcolm Wilson, GXO CEO.
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