XPO Logistics closes Norbert Dentressangle deal

Norbert Dentressangle has been officially purchased by XPO Logistics.

The deal to acquire 67% of the business from the Norbert family has gone through less than six weeks after an unsolicited €3.24bn (£2.3bn) bid was made by the US firm for the business.

XPO will now launch a tender to acquire the remaining stock in Norbert Dentressangle at a price of €217.50 per share. This represents a 34% premium over the closing price of ordinary shares in the company on 27 April..

While the fleet remains in its distinctive letter-box red, the Norbert Dentressangle name will now be replaced with the legend #WeAreXPO on the trailer, with the XPO logo replacing the ND logo on the cab.

ND chief executive Hervé Montjotin, now chief executive of XPO’s European business, said: “Thanks to the speedy completion of this acquisition, we can begin our integration as part of XPO Logistics without delay and fully commit to an ambitious business development plan, supported by a broader service offering and an expanded capacity for innovation”.

The new livery will make its debut during the Tour de France in July, with which ND has a long-standing logistics contract.