REFILE-XPO Logistics buys home delivery company to tap e-commerce boom
(Corrects day of the week to Monday from Wednesday in last line)
By Sagarika Jaisinghani
Feb 9 (Reuters) - XPO Logistics Inc has bought home delivery company UX Specialized Logistics for $59 million in cash to tap into the booming e-commerce market in North America.
XPO estimates "last mile" delivery services, which involve transporting goods from warehouses to either a home or a retailer, to be a $13 billion market in North America.
"UX will boost our over-the-road capacity by another 1,600 independent owner-operators," XPO Chief Executive Bradley Jacobs told Reuters. "That's important to our growth plan for last mile."
The deal will be announced later on Monday, Jacobs said.
New York-based UX is a third-party logistics provider specializing in inventory management services and the installation of heavy goods apart from home delivery on the east coast and in Chicago and Canada.
XPO is the largest non-asset provider of last mile-delivery services for heavy goods in the region.
Jacobs, 58, has built Greenwich, Connecticut-based XPO into a one-stop shop logistics company since he took control in 2011, largely through acquisitions. Continued...