XPO Logistics Completes Acquisition of New Breed

Becomes the preeminent U.S. provider of complex, technology-enabled
contract logistics for blue chip customers

Gains critical mass with total operations of 203 locations, 10,400 employees and end-to-end supply chain solutions

Adds approximately $597 million of revenue and $77 million of
adjusted EBITDA to annual run rates

GREENWICH, Conn. - September 2, 2014 - XPO Logistics, Inc. (NYSE: XPO) ("XPO" or the "company") today announced that it has completed its previously announced acquisition of premium contract logistics provider New Breed Holding Company ("New Breed") for a cash purchase price of $615 million. The acquisition expands the company's operations to 203 locations and approximately 10,400 employees.

The company financed the acquisition and related fees and expenses with the proceeds from its August 2014 private placement of $500 million of senior notes and available cash on hand. Upon closing, New Breed's former chief executive, Louis DeJoy, used $30 million of proceeds from the transaction to purchase restricted stock from the company. As chief executive of XPO's new contract logistics business, Mr. DeJoy will continue to lead the operations he has been instrumental in growing since 1983.

New Breed is the preeminent U.S. provider of non-asset based, highly engineered contract logistics solutions for blue chip customers. Its services are concentrated in industries with high-growth outsourcing opportunities, including telecom/technology, retail/e-commerce, aerospace and defense, medical equipment and select areas of manufacturing. The company plans to grow its contract logistics platform organically and through the addition of complementary acquisitions.

In July, the company raised its 2014 financial targets in light of the significant growth of its acquired operations and cold-starts, as reported, and its agreement to acquire New Breed. The company expects to achieve an annual revenue run rate of more than $3 billion and an annual EBITDA run rate of at least $150 million by year-end.

Credit Suisse Securities (USA) LLC served as financial advisor to XPO Logistics, and Wachtell, Lipton, Rosen & Katz acted as legal advisor for the transaction. Morgan Stanley & Co. LLC served as financial advisor to New Breed, and Willkie Farr & Gallagher LLP acted as legal advisor.

About XPO Logistics, Inc.

XPO Logistics, Inc. (NYSE: XPO) is one of the fastest growing providers of transportation logistics services in North America: the fourth largest freight brokerage firm, the third largest provider of intermodal services, the largest provider of last mile logistics for heavy goods, the largest manager of expedited shipments, and the leading provider of premium contract logistics, with growing positions in managed transportation, global freight forwarding and less-than-truckload brokerage. The company facilitates more than 31,000 deliveries a day throughout the U.S., Mexico and Canada.