Greenwich-based supply chain and warehousing company GXO Logistics Inc. announced Thursday that it had agreed to purchase the e-commerce order fulfillment service provider PFSweb Inc. for $181 million.
GXO said it will acquire PFSweb, which is based in Texas, for $7.50 per share in cash. The enterprise value is $142 million and includes PFSweb’s cash balance of $39 million.
PFSweb serves luxury brands, including health and beauty, jewelry, collectibles and activewear, through 11 distribution centers across North America, Belgium and the United Kingdom.
GXO said the acquisition will add to its customer portfolio, expand its U.S. offering in cosmetics and luxury brands, and add new technology.
The transaction is expected to close in the fourth quarter.
