GXO Pays $181 Million for L’Oreal, Pandora E-Commerce Handler

GXO Logistics Inc. agreed to purchase PFSweb Inc., an e-commerce distributor for luxury brands including L’Oreal USA and jewelry maker Pandora A/S, for $181 million.

PSFweb shareholders will receive $7.50 a share, GXO said in a statement, which is a 50% premium over PSFweb’s closing price of $5.01 on Wednesday. The deal marks the first US acquisition since GXO was spun out of trucker XPO Logistics in 2021.

PFSweb, based near Dallas, has 11 distribution centers in North America, Belgium and the UK and handles e-commerce fulfillment for more than 100 brands, GXO said. About 90% of its sales ...