J.B. Hunt to Acquire BNSF Logistics' Brokerage Operations in Major Transportation Deal
Our articles may contain affiliate linksToday, Burlington Northern Santa Fe, LLC announced it will sell the brokerage operations of BNSF Logistics, LLC to J.B. Hunt Transport, Inc., a subsidiary of J.B. Hunt Transport Services. This acquisition includes BNSF Logistics’ third-party logistics (“3PL”) services for the movement of full truckload, flatbed, temp-controlled, drayage, expedited, and less-than-truckload services to a large and diverse group of customers.
BNSF Logistics’ warehouse, retail specialty, heavy-haul, and project services are not included in the transaction and will be maintained by the company.
BNSF Railway and J.B. Hunt have enjoyed a strong partnership dating back more than 30 years. Their focus remains on providing the best value for customers across the North American supply chain. As they continue to work together to develop solutions that drive value for customers, they recognized a unique opportunity to combine their companies’ efforts to serve the transportation market with 3PL services and leverage the investments J.B. Hunt has made in their technology platform, J.B. Hunt 360.
It’s an exciting opportunity for all involved, and it will only strengthen their momentum for growth.
They don’t anticipate any disruption of normal operations resulting from this transaction. Priority number one is to ensure a seamless transaction for everyone involved. Upon closing the transaction, BNSF Railway and J.B. Hunt will enter into a long-term service agreement whereby J.B. Hunt will continue to provide exceptional value-added 3PL service for BNSF Railway.
J.B. Hunt Transport Services said it is buying the freight brokerage operations of BNSF Logistics, an affiliate of Berkshire Hathaway-owned BNSF Railway.
The Lowell, Ark.-based trucking and logistics giant on Thursday said it has signed a definitive agreement with the third-party logistics company that will be funded through its cash resources.
The transaction is expected to close before the end of the year, J.B. Hunt said, adding that the brokerage operations of BNSF Logistics will be rolled into its integrated capacity solutions unit for segment reporting purposes.
“This acquisition is another step forward in our mission to create the most efficient transportation network in North America,” Chief Executive John Roberts said.
J.B. Hunt has been a customer of BNSF Railway’s truck-rail intermodal services for several years, providing containers and truck trailers that move on BNSF’s rail network. The companies stepped up their commercial relationship last year when J.B. Hunt said it would send more of its intermodal business, which makes up nearly half of the company’s overall revenue, through BNSF’s operations.
The new deal “builds on a long-term business relationship and strategic vision to provide efficient, value-added solutions for customers across the North American supply chain,” J.B. Hunt said.
J.B. Hunt didn’t disclose financial details on the agreement.
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Highlights of the article
Acquisition Announcement: Burlington Northern Santa Fe, LLC will sell BNSF Logistics' brokerage operations to J.B. Hunt Transport, Inc., a subsidiary of J.B. Hunt Transport Services.
Scope of Acquisition: The acquisition includes BNSF Logistics' third-party logistics ("3PL") services, covering various transportation services for a diverse customer base.
Excluded Services: BNSF Logistics' warehouse, retail specialty, heavy-haul, and project services will not be part of this transaction and will be retained by the company.
Longstanding Partnership: BNSF Railway and J.B. Hunt have enjoyed a strong partnership spanning over 30 years, with a focus on delivering value in the North American supply chain.
Strategic Collaboration: Both companies recognize an opportunity to combine efforts in providing 3PL services and leveraging J.B. Hunt's technology platform, J.B. Hunt 360.
Smooth Transition: No disruption in normal operations is expected, and ensuring a seamless transition is a top priority.
Long-Term Service Agreement: Following the transaction, BNSF Railway and J.B. Hunt will enter into a long-term service agreement, with J.B. Hunt continuing to provide value-added 3PL services for BNSF Railway.
J.B. Hunt's Acquisition: J.B. Hunt Transport Services is acquiring BNSF Logistics' brokerage operations, funded through its cash resources.
Transaction Timeline: The transaction is set to close before the end of the year, with BNSF Logistics' brokerage operations becoming part of J.B. Hunt's integrated capacity solutions unit.
Strategic Vision: J.B. Hunt aims to create an efficient transportation network in North America through this acquisition, building on their long-term business relationship with BNSF Railway.
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