PFSweb has a new owner, and it's a big change. GXO Logistics, a leading provider of logistics and supply chain services, has acquired PFSweb.
This acquisition completes a significant transaction, marking a new chapter for PFSweb. The acquisition will likely bring new opportunities and resources to the company.
GXO Logistics has a strong track record of delivering innovative logistics and supply chain solutions. Its expertise will be valuable assets to PFSweb as it moves forward.
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Gxo Acquisition
GXO Logistics, Inc. acquired PFSweb, a tech-enabled e-commerce order fulfillment platform, for $181 million in cash.
The acquisition was announced in 2023 and is expected to expand GXO's offering in high-growth verticals, including cosmetics and luxury goods, across North America and Europe.
PFSweb will operate as a division within GXO's Americas and Asia Pacific region, led by Eduardo Pelleissone.
GXO's CEO, Malcolm Wilson, said the acquisition enhances their exposure to new high-growth verticals in North America and adds important capabilities to their offerings.
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PFSweb provides services to about 100 retailers and manufacturers, generating revenue of about $295 million last year.
The acquisition price was set at an enterprise value of about $142 million, including a cash balance of $39 million.
Here are some key services that PFSweb offers:
- Order fulfillment
- Order management
- Customer service
- Payment services
- Fraud prevention
PFSweb has significant expertise in delivering seamless, high-touch fulfillment in key growth verticals, including health and beauty, jewelry and collectibles, activewear, and prestige CPG categories.
Customers
PFSweb has partnered with GXO, a company that offers a strong strategic partnership due to its industry leadership, global scale, and significant capital resources.
PFSweb's CEO, Mike Willoughby, has expressed enthusiasm for this partnership, stating that it will enable them to deliver their branded order fulfillment and support services to an expanded base of premier clients.
The GXO team shares PFSweb's commitment to top-quality client relationships and execution, which is a key factor in their success together.
PFSweb is looking forward to their future together with GXO, a partnership that will further enhance GXO's global fulfillment network.
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Frequently Asked Questions
What does PFSweb do?
PFSweb is a 3PL company that specializes in eCommerce fulfillment and logistics services, including order orchestration and shipping. They help businesses manage and fulfill online orders efficiently.
How many employees does PFSweb have?
PFSweb has a total of 2,408 employees. Learn more about PFSweb's company culture and growth.
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