J.B. Hunt Transport Services announced September 14 that it was buying the freight brokerage operations of BNSF Logistics, an affiliate of BNSF Railway. The deal will be funded with cash, according to The Wall Street Journal.
J.B. Hunt said the transaction, likely to be completed before the end of 2023, will see BNSF Logistics’ brokerage operations integrated into J.B. Hunt’s Integrated Capacity Solutions (ICS) services.
J.B. Hunt explained that the deal builds on a “long-term business relationship and strategic vision” and aims to provide “efficient, value-added solutions” for customers within North America’s supply chain.
“This agreement with J.B. Hunt reflects our companies’ shared commitment to provide industry-leading intermodal service to our customers,” said Katie Farmer, president and CEO of BNSF Railway. “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.”
“BNSF Logistics has shown strong performance in serving customers of all sizes,” said Brad Hicks, executive vice president of People and president of Highway Services 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.”
J.B. Hunt did not disclose the financial details of the agreement.
