J.B. Hunt Announces Acquisition of RDI Last Mile Co.
J.B. Hunt Transport Services, Inc. (Nasdaq: JBHT), one of the largest supply chain solutions providers in North America, today announced that its subsidiary, J.B. Hunt Transport, Inc., acquired the assets of RDI Last Mile Co. on December 31, 2019. The transaction was funded using J.B. Hunt’s existing revolving credit facility.
“Growing our final mile delivery capabilities is a priority, and the acquisition of RDI further extends our expertise in furniture delivery,” said John Roberts, president and CEO of J.B. Hunt.
Founded in 1987, RDI provides home delivery services of big and bulky products in the Northeast region of the U.S. RDI utilizes contract carriers to perform primarily furniture deliveries and generates annual revenue of $35 million.
“Providing our customers with a comprehensive, high-quality delivery experience drives our final mile services,” said Nick Hobbs, executive vice president and president of Dedicated Contract Services at J.B. Hunt. “RDI is a reputable furniture delivery provider, and we are excited to welcome them to J.B. Hunt.”
Final Mile Services® is a division of J.B. Hunt’s Dedicated Contract Services® business unit and operates one of the largest nationwide, commingled cross-dock operations with the ability to serve 100% of the contiguous United States. RDI is the company’s third acquisition in as many years. J.B. Hunt acquired Cory 1st Choice Home Delivery in 2019 and Special Logistics Dedicated in 2017. With the RDI acquisition, Final Mile Services will expand its home delivery capabilities and grow to include more than 104 locations and 3.2 million square feet of warehouse and facilities space.
About J.B. Hunt
J.B. Hunt’s vision is to create the most efficient transportation network in North America. The company’s industry-leading solutions and mode-neutral approach generate value for customers by eliminating waste, reducing costs and enhancing supply chain visibility. Powered by one of the largest company-owned fleets in the country and third-party capacity through its J.B. Hunt 360°® digital freight marketplace, J.B. Hunt can meet the unique shipping needs of any business, from first mile to final delivery, and every shipment in-between. Through disciplined investments in its people, technology and capacity, J.B. Hunt is delivering exceptional value and service that enable long-term growth for the company and its stakeholders.
J.B. Hunt Transport Services Inc. is an S&P 500 company and a component of the Dow Jones Transportation Average. Its stock trades on NASDAQ under the ticker symbol JBHT. J.B. Hunt Transport Inc. is a wholly owned subsidiary of JBHT. The company’s services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, last mile, transload and more. For more information, visit www.jbhunt.com.