GXO Announces Completion of UK Regulatory Review of Wincanton Acquisition
GXO Logistics, Inc. today announced that the UK Competition and Markets Authority (CMA) has cleared GXO’s acquisition of Wincanton subject to the divestment of a small number of Wincanton grocery contracts in the UK, and that integration will be permitted with the vast majority of the Wincanton business once certain administrative conditions are met. The company also announced today that it is raising full-year guidance on organic revenue growth, adjusted EBITDA and adjusted diluted EPS.
Malcolm Wilson, chief executive officer of GXO, said, “We are pleased to have the UK regulatory review concluded and are excited to bring the two businesses together. The combination of GXO and Wincanton will enhance GXO’s offering for customers across the UK and Ireland and bring presence in strategic verticals that will serve as a springboard for growth. We are well positioned to move forward swiftly and look forward to welcoming the Wincanton team to GXO.”
Integration is expected to commence in the third quarter and the teams are permitted to collaborate on specified ongoing aerospace and defense tenders in the UK effective immediately. No further regulatory reviews are required.
Updated Full-Year 2025 Guidance
“Across our operations, we are seeing better than expected volumes and accelerated productivity gains in existing operations and new start-ups,” added Wilson. “Coupled with greater clarity on the timing of synergy benefits from the Wincanton acquisition, we are pleased to raise our full-year guidance, reflecting the resilience and visibility of our model and our diversification across geographies and verticals.”
Updated full-year 2025 guidance1 includes expected synergies of the Wincanton acquisition which remains subject to integration commencing in the third quarter:
- Organic revenue growth2 of 3.5% to 6.5% (up from 3% to 6%);
- Adjusted EBITDA2 of $860 million to $880 million (up from $840 million to $860 million);
- Adjusted diluted EPS2 of $2.43 to $2.63 (up from $2.40 to $2.60); and
- Adjusted EBITDA to free cash flow conversion2 of 25% to 35% (unchanged).
