ArcBest® Announces Closing of the MoLo Solutions Purchase

Rhea-AI Summary

ArcBest (Nasdaq: ARCB) has completed the acquisition of MoLo Solutions, a truckload freight brokerage based in Chicago, effective November 1, 2021. This strategic move enhances ArcBest's logistics capabilities and strengthens its position in the supply chain sector. With a history dating back to 1923, ArcBest operates over 250 campuses and service centers employing more than 14,000 individuals. This acquisition aligns with ArcBest's mission to innovate and meet customer needs through integrated logistics solutions.

Positive

• Acquisition of MoLo Solutions enhances logistics capabilities.
• Strengthens market position in supply chain logistics.
• Expands service offerings with truckload freight brokerage.

Negative

• None.

FORT SMITH, Ark., Nov. 1, 2021 /PRNewswire/ -- ArcBest^® (Nasdaq: ARCB), a leader in supply chain logistics, today announced that it has finalized the previously announced acquisition of MoLo Solutions, LLC ("MoLo"), a Chicago-based truckload freight brokerage, effective November 1, 2021.

About ArcBest
ArcBest^® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with over 14,000 employees across more than 250 campuses and service centers, the company is a logistics powerhouse, fueled by the simple notion of finding a way to get the job done. Through innovative thinking, agility and trust, ArcBest leverages their full suite of shipping and logistics solutions to meet customers' critical needs, each and every day. For more information, visit arcb.com.

Investor Relations Contact: David Humphrey
Title: Vice President – Investor Relations
Phone: 479-785-6200
Email: dhumphrey@arcb.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/arcbest-announces-closing-of-the-molo-solutions-purchase-301413300.html

SOURCE ArcBest

FAQ

What is the significance of ArcBest's acquisition of MoLo Solutions?

The acquisition enhances ArcBest's logistics capabilities and strengthens its position in the supply chain sector.

When did ArcBest finalize the acquisition of MoLo Solutions?

ArcBest finalized the acquisition on November 1, 2021.

What industry does MoLo Solutions operate in?

MoLo Solutions operates as a truckload freight brokerage.

How many employees does ArcBest have?

ArcBest has over 14,000 employees across more than 250 campuses and service centers.

What is ArcBest's stock symbol?

ArcBest's stock symbol is ARCB.