LOWELL, Ark., and FORT WORTH, Texas — J.B. Hunt Transport Inc. has entered into a definitive agreement to buy the brokerage operations of BNSF Logistics LLC, an affiliate of BNSF Railway Co.
BNSF, a third-party logistics service company, provides full truckload, flatbed, temperature-controlled and less-than-truckload services. The affiliate also provides services not included in the transaction, including warehouse, retail specialty, heavy-haul and project services.
“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 360°,” said John Roberts, CEO of J.B. Hunt. “This acquisition is another step forward in our mission to create the most efficient transportation network in North America.”
In 1989, J.B. Hunt and BNSF developed a double-stack shipping solution to complement rail and trucking services. In March 2022, the two launched a joint effort to improve capacity in the intermodal marketplace. This latest effort builds on a long-term business relationship and strategic vision to provide efficient value solutions for North American customers.
“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.”
Once the transaction closes, the brokerage operations of BNSF Logistics will roll into J.B. Hunt’s Integrated Capacity Solutions for segment reporting purposes. The transaction will be funded using J.B. Hunt’s existing cash balance and is expected to close before the year’s end.
“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. Hunt360box 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.”
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 those services for BNSF Railway.
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