Wincanton plc
{{Short description|British logistics company}}
{{Use dmy dates|date=January 2017}}
{{Use British English|date=January 2017}}
{{Infobox company
| name = Wincanton plc
| logo = Wincanton.svg
| logo_size = 200px
| type = Subsidiary
| traded_as = {{LSE|WIN}}
| industry = Logistics
| foundation = {{Start date and age|1925}}
| location = Chippenham, England, UK
| key_people = Sir Martin Read
(Chairman)
James Wroath
(CEO)
| products = Logistics
Supply chain management
| revenue = {{increase}} £1,462 million (2023){{Cite web |title=Annual Report 2023 |url=https://win-12731-s3.s3.eu-west-2.amazonaws.com/assets/9416/9770/7804/Wincanton_plc_Annual_Report_and_Accounts_2023.pdf |access-date=18 February 2024 |publisher=Wincanton plc}}
| revenue_year =
| operating_income = {{increase}} £70.8 million (2023)
| income_year =
| net_income = {{decrease}} £33.2 million (2023)
| net_income_year =
| num_employees = 20,005 (2023)
| num_employees_year =
| parent = {{ubl|GXO Logistics {{smaller|(2024–present)}}}}
| website = {{url|https://www.wincanton.co.uk}}
}}
Wincanton plc is a British provider of logistics with its origins in milk haulage. The company provides transport and logistics services including specialist automated high bay, high capacity warehouses, and supply chain management for businesses. The company was listed on the London Stock Exchange until it was acquired by GXO Logistics in April 2024.{{Cite web|url=https://investors.gxo.com/news-releases/news-release-details/gxo-completes-acquisition-wincanton/|title=GXO Completes Acquisition of Wincanton|work=GXO Logisticsr|access-date=2024-05-23|language=en}}
History
Wincanton was founded in 1925, as Wincanton Transport & Engineering Ltd, a subsidiary of the West Surrey Central Dairy Company, a company which has since been known as Cow & Gate, Unigate and then Uniq.{{cite news |last=Hunter |first=Michael |date=19 January 2024 |title=Wincanton to go private in £764.9 million deal with French giant |url=https://www.standard.co.uk/business/wincanton-saade-family-london-stock-exchange-listing-liquidity-deal-billionaire-b1133429.html |access-date=29 March 2024 |newspaper=Evening Standard}}
In the 1970s, Wincanton diversified into new market sectors including petroleum and developed temperature controlled operations for the transportation of food stuffs and refrigerated goods. In the 1990s, Wincanton merged with Unigate Chilled Distribution, and entered the retail market, through the acquisition of Glass Glover in February 1993.{{Cite web |date=16 February 1993 |title=Unigate buys Glass Glover |url=https://www.heraldscotland.com/news/12619743.Unigate_buys_Glass_Glover/ |access-date=13 November 2024 |publisher=Herald Scotland}} In March 2001, Wincanton plc demerged from Uniq, and was listed on the London Stock Exchange.{{cite news |url=https://www.just-food.com/news/uk-uniq-might-go-private-after-demerger-from-wincanton/ |date=21 March 2001 |title=Uniq might go private after demerger from Wincanton |newspaper=Just Food |access-date=29 March 2024}}
In November 2008, Wincanton acquired the CEL Group.{{Cite web |date=7 November 2008 |title=Wincanton acquires CEL Group |url=https://www.logistik-express.com/wincanton-acquires-cel-group/ |access-date=November 13, 2024 |newspaper=Logistik Express}} In November 2015, Wincanton sold its records management business (WRM) to Restore to reduce its average net indebtedness, and allow room for growth.{{cite news |last=Farrell |first=Stephen |date=4 November 2005 |title=Wincanton records business sold for £55.7m |url=https://www.insidermedia.com/news/south-west/wincanton-sells-records-management-arm-for-55.7m |access-date=29 March 2024 |newspaper=Insider Media}} In February 2016, Wincanton partnered with Magnet Kitchens to produce 44 new double-decker articulated trailers which was an investment of £2 million.{{cite news |url=https://bulk-distributor.com/2016/02/wincanton-puts-pioneering-double-decker-trailers-on-the-road/ |title=Wincanton puts pioneering double-decker trailers on the road |newspaper=Bulk Distributor |date=8 February 2016 |access-date=29 March 2024}}
In March 2016, Wincanton launched EnergyLink, a network based in the United Kingdom to support greater flexibility in delivery services for the energy sector.{{cite news |url=https://fueloilnews.co.uk/2016/03/energylink-flexible-contracting-from-wincanton/ |title=EnergyLink: flexible contracting from Wincanton |newspaper=Fuel Oil News |date=30 March 2016 |access-date=29 March 2024}}
In April 2016, Wincanton gained further growth of its operations at the Port of Southampton after moving to a new base and investing in new equipment, supported by extra rail capacity.{{Cite news |url=https://motortransport.co.uk/wincanton-moves-to-new-southampton-site-to-increase-port-operation/16748.article |title=Wincanton moves to new Southampton site to increase port operation |newspaper=Motor Transport |date=29 April 2016 |access-date=29 March 2024}}
In June 2016, Wincanton renewed its distribution deal with Sainsbury's for an additional five years.{{Cite news |url=https://www.sharecast.com/news/news-and-announcements/wincanton-extends-distribution-deal-with-sainsburys--1208967.html |date=15 June 2016 |title=Wincanton extends distribution deal with Sainsbury's |newspaper=Sharecast |access-date=29 March 2024}}
In July 2016, Wincanton renewed a contract with The Co-operative Group for a further five years, which brings the contract to 25 years. As part of the agreement, around 700 staff of Wincanton and a fleet of more than 500 vehicles will support the Co-op, by making around 130,000 journeys each year to as many as 1,000 stores of the Co-op across the United Kingdom.{{Cite news |url=https://motortransport.co.uk/wincanton-renews-co-op-contract-for-further-five-years/16774.article |title=Wincanton renews Co-op contract for further five years |newspaper=Motor Transport |date=26 July 2016 |access-date=29 March 2024}}
In October 2019, Wincanton plc expressed an interest in merging with Eddie Stobart.{{Cite web |last=Curtis |first=Joe |last2=Daniel |first2=Alex |name-list-style=and |date=18 October 2019 |title=Wincanton pursues possible merger with Eddie Stobart |url=https://www.cityam.com/wincanton-pursues-possible-merger-with-eddie-stobart/ |access-date=11 November 2019 |publisher=City AM}} Wincanton, later withdrew their offer, saying that it had "yet to receive full disclosure of the information requested to enable it to complete its due diligence exercise".{{Cite web |date=25 November 2019 |title=Wincanton withdraws Eddie Stobart interest |url=https://www.logisticsmanager.com/wincanton-withdraws-eddie-stobart-interest/ |access-date=25 November 2019 |publisher=Logistics Manager}}
In January 2024, a takeover offer from CMA CGM worth £718 million was recommended for acceptance by Wincanton's board of directors.{{cite news|url=https://www.ajot.com/news/ceva-logistics-a-subsidiary-of-cma-cgm-has-reached-an-agreement-with-the-board-of-directors-of-wincanton |title=CEVA Logistics of CMA CGM, reached an agreement with the board of directors of Wincanton|newspaper=American Journal of Transportation|date=19 January 2024|access-date=23 April 2024}}{{cite news |last=Knowler |first=Greg |date=19 January 2024 |title=UK-based Wincanton accepts $718 million takeover offer from CEVA Logistics |url=https://www.joc.com/article/uk-based-wincanton-accepts-718-million-takeover-offer-ceva-logistics_20240119.html |access-date=23 April 2024 |newspaper=Journal of Commerce}} Then, in March 2024, the board of directors decided to back a higher offer worth £762 million from GXO Logistics.{{cite news |last=Kollewe |first=Julia |date=1 March 2024 |title=Wincanton backs £762m takeover offer from US group GXO |url=https://www.theguardian.com/business/2024/mar/01/wincanton-takeover-offer-gxo-uk-haulage |access-date=23 April 2024 |newspaper=The Guardian}} Completion of the takeover was approved by the court on 25 April 2024 but has been subject to an investigation by the Competition and Markets Authority since 26 April 2024.{{cite news |date=26 April 2024 |title=Court sanction of scheme of arrangement |url=https://www.sharesmagazine.co.uk/news/market/LSE20240425122105_5158233/court-sanction-of-scheme-of-arrangement |access-date=26 April 2024 |newspaper=Shares Magazine}}{{cite web |title=GXO / Wincanton merger inquiry |url=https://www.gov.uk/cma-cases/gxo-slash-wincanton-merger-inquiry |website=GOV.UK |access-date=28 January 2025 |language=en |date=27 January 2025}}
Headquarters
The company's origins are in Wincanton, Somerset, although the head office is now based in Methuen Park, Chippenham, Wiltshire.{{Cite web |url=https://assets.savills.com/properties/57597D31-A52A-4757-99EF-C8452A12D442/The%20Wincanton%20Building,%20Methuen%20Business%20Park,%20Chippenham%20-%20Offices%20To%20Let.pdf|title=The Wincanton Building, Methuen Park, Chippenham|publisher=Savills|access-date=31 March 2024}}
Operations
Wincanton currently directly employs in the region of 20,000 people across the United Kingdom and Ireland through a network of 160 sites.{{Cite web |title=Unlock opportunities within infrastructure logistics|url=https://www.wincanton.co.uk/what-we-do/public-and-industrial/infrastructure/ |access-date=31 March 2024 |website=wincanton.co.uk}}
References
{{Reflist}}
{{Authority control}}
{{DEFAULTSORT:Wincanton}}
Category:Companies based in Wiltshire
Category:Companies formerly listed on the London Stock Exchange
Category:Logistics companies of the United Kingdom
Category:Transport companies established in 1925
Category:Transport operators of the United Kingdom