C.H. Robinson is said to have announced the acquisition of RXO for $5.8 billion, according to an article published by Sourcing Journal. The deal would pair the freight brokerage giant, based in Minnesota, with a last-mile player handling more than 11 million annual deliveries for omnichannel and e-commerce retailers.
RXO had been spun off from XPO into an independent public company in November 2022, separating the asset-light transportation business from the less-than-truckload (LTL) division. Two years later, RXO had acquired freight broker and 3PL Coyote Logistics from UPS for more than a billion dollars, expanding its access to smaller carriers.
In its annual report, RXO describes itself as "le plus grand fournisseur de transport du dernier kilomètre externalisé pour les marchandises lourdes aux États-Unis" (the largest provider of outsourced last-mile transportation for heavy goods in the United States). This business, which covers mattresses, furniture, home appliances and fitness equipment, is said to account for 19% of RXO's activity, against 73% for its truckload freight brokerage. Last year, RXO is said to have reported $1.2 billion in last-mile revenue, up $141 million from the $1.06 billion generated in 2024. Retail and e-commerce customers are said to represent around 37% of RXO's 2025 revenue, or $2.15 billion: its largest customer category.
C.H. Robinson's business mix, meanwhile, is said to remain dominated by North American surface transportation (73% of revenue) and global forwarding (18%). The company is said to have forecast $18.4 billion in gross revenue for 2026, against $6.8 billion expected for RXO over the same period. Retail is said to already be its largest end market, with 25% of revenue, from a base of 75,000 customers claimed across various sectors.
A combined company projected at more than $25 billion
According to C.H. Robinson's projections, the combined company would generate more than $25 billion in gross revenue, with last-mile accounting for only about 5% of the total. After the acquisition, C.H. Robinson is said to count around 93,000 shippers and 600,000 carriers. The group is said to expect around $300 million in recurring net cost synergies within two years of closing, targeted for the first half of 2027.
PDG Dave Bozeman is said to have stated that there is a "chevauchement limité des clients entre nos activités", likely to diversify the group's revenue mix. CFO Damon Lee, for his part, is said to have judged RXO's technology "complémentaire, voire additive" to the 3PL's offering. In June, C.H. Robinson had launched BidBoardX, a digital marketplace designed to give qualified carriers direct access to long-term committed freight opportunities.
Wall Street divided
The stock market reaction is said, however, to have diverged. C.H. Robinson's share price is said to have fallen more than 13% on Monday midday, while RXO's stock is said to have risen nearly 21% on the announcement, according to Sourcing Journal.
