XPO acquires Ontario logistics co. - Westfair Communications

XPO CEO Bradley Jacobs. Courtesy of XPO.

For $8 million, XPO Logistics Inc. acquired Ontario-based Kelron Logistics, a broker providing freight scheduling and other services with $100 million in revenue over the past 12 months.

In May, XPO relocated its headquarters from Michigan to Greenwich. In the second quarter, the company lost $5.2 million while increasing revenue 24 percent to $55 million.

“We turned a corner in freight forwarding with the first year-over-year revenue increase in five quarters,” said XPO CEO Bradley Jacobs, in a prepared statement. “While our investments in infrastructure affect our earnings in the short-term, they are critical to our plan for growth. We”™re transforming the company to create significant value over time.”