J.B. Hunt Strikes Acquisition Deal With BNSF Logistics
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J.B. Hunt Transport Services announced Sept. 14 that its transport subsidiary has entered into a definitive agreement to purchase the brokerage operations of BNSF Logistics.
A supply chain services subsidiary of Burlington Northern Santa Fe, BNSF Logistics provides logistics services as well as standard truckload, rail and multimodal moves. J.B. Hunt Transport views the acquisition as a way to bolster efficiencies across its transportation network. Those brokerage operations will roll into its integrated capacity solutions segment at close.
J.B. Hunt ranks No. 3 on the Transport Topics Top 100 list of the largest for-hire carriers in North America and No. 5 on the TT Top 100 list of the largest logistics companies.
Roberts
“As we continue to work with BNSF Railway to develop solutions that drive value for customers, we recognized a unique opportunity to combine the companies’ efforts to serve the transportation market with 3PL services and leverage the investments J.B. Hunt has made in our technology platform,” J.B. Hunt CEO John Roberts said. “This acquisition is another step forward in our mission to create the most efficient transportation network in North America.”
BNSF Logistics provides third-party logistics services to sister company BNSF Railway Co. Those services cover full truckload, flatbed, temperature-controlled, drayage, expedited and less-than- truckload. J.B. Hunt plans to enter into a long-term service agreement to continue providing those services once the transaction closes.
Today, J.B. Hunt Transport Services Inc, entered into a definitive agreement to purchase the brokerage operations of BNSF Logistics, LLC.
Read the full release here: https://t.co/5KeueGvLff — BNSFL Careers (@BNSFLCareers) September 15, 2023
“BNSF Logistics has shown strong performance in serving customers of all sizes,” said Brad Hicks, executive vice president of people at J.B. Hunt. “Complemented with our best-in-class intermodal and J.B. Hunt 360box power-only service offering, this acquisition will provide a compelling value proposition for customers, growth opportunities for J.B. Hunt and greater service capabilities for BNSF Logistics’ employee and agent model.”
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J.B. Hunt said in the announcement that it has a long working history with BNSF Railway. That relationship includes working to develop a double-stack shipping solution and improving capacity in the intermodal marketplace.
“This agreement with J.B. Hunt reflects our companies’ shared commitment to provide industry-leading intermodal service to our customers,” BNSF Railway President Katie Farmer said. “This continues more than 30 years of partnership between BNSF and J.B. Hunt, and builds on our announcement to further integrate our joint services.”
J.B. Hunt said the transaction will be funded using its existing cash balance and is expected to close before the end of the year. BNSF Logistics also provides warehouse, retail specialty, heavy-haul and project services. But those operations are not included in the proposed deal.
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