Wincanton sale sees directors exit and brand likely to disappear

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Monday, 06 May 2024

The sale of UK-based Wincanton to US supply chain management giant GXO will see some Wincanton Board directors including chairman sir Martin Read, senior director Gillian Barr and non-executive directors Anthony Bickerstaff, Mihiri Jayaweera, Deborah Lentz and John Pattullo leave the company.

Wincanton’s executive directors James Wroath and chief financial officer Tom Hinton will remain on the Board.

The Wincanton brand probably also will disappear and be replaced by GXO Logistics.

GXO's bid was an enterprise value of approximately GBP960 million and GXO hopes the acquisition will help it in the aerospace, utilities, industrial and healthcare sectors in the UK and in Ireland, and provide GXO with a better springboard into Europe.