J.B. Hunt Announces Acquisition of Mass Movement, Inc., Its Fourth to Expand Final Mile Services Since 2017

Rhea-AI Summary

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) has acquired the assets of Mass Movement, Inc. as of November 30, enhancing its final mile delivery capabilities for the commercial health and fitness sector. Mass Movement, which generated $29 million in revenue in 2019, brings over 20 years of experience in logistics and delivery of fitness equipment. The acquisition is part of J.B. Hunt's strategy to expand its Final Mile Services and follows three previous acquisitions since 2017. The transaction was funded with cash on hand.

Positive

• Acquisition of Mass Movement enhances final mile delivery expertise.
• Mass Movement's revenue in 2019 was $29 million, indicating strong market presence.
• Expands J.B. Hunt's capabilities in the commercial health and fitness industry.
• Mass Movement's founders will continue in leadership roles post-acquisition.

Negative

• None.

LOWELL, Ark.--(BUSINESS WIRE)--J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT), one of the largest supply chain solutions providers in North America, announced today that its subsidiary, J.B. Hunt Transport, Inc., acquired the assets of Mass Movement, Inc. on November 30.

“Mass Movement presents an opportunity to expand our expertise in the final mile delivery of big and bulky products,” said John Roberts, president and CEO of J.B. Hunt. “The acquisition complements our current service and will enhance our ability to meet the growing demand of customers in the commercial health and fitness industry.”

Mass Movement has more than 20 years of experience providing logistics, delivery, assembly, and installation services for the commercial fitness industry and finished 2019 with $29 million of revenue. Founded by Dom Simonetti and Jim Sullivan in 1996, the company has delivered two million-plus pieces of equipment to more than 3,500 fitness centers throughout North America. Both founders will become employees of J.B. Hunt and will continue in leadership roles as the company expands its fitness equipment delivery business.

“Mass Movement is highly regarded among industry manufacturers and facility owners,” said Nick Hobbs, executive vice president and president of Dedicated Contract Services and Final Mile Services. “Its reputation and service quality align with ours, and we look forward to welcoming Mass Movement’s employees to the J.B. Hunt family.”

The acquisition is J.B. Hunt’s fourth since 2017 and will broaden the company’s industry-leading Final Mile Services, which operates one of the largest nationwide, commingled cross-dock operations. With 117 locations and over 3.4 million square feet of warehouse and facilities space, Final Mile has the ability to serve 100% of the contiguous United States. In 2019, J.B. Hunt acquired the assets of RDI Last Mile Co. and Cory 1st Choice Home Delivery. The company also purchased Special Logistics Dedicated in 2017.

The transaction was funded using cash on hand, and the law firm of Mitchell, Williams, Selig, Gates & Woodyard, PLLC served as legal advisor to J.B. Hunt.

About J.B. Hunt

J.B. Hunt Transport Services, Inc., an S&P 500 company, provides innovative supply chain solutions for a variety of customers throughout North America. Utilizing an integrated, multimodal approach, the company applies technology-driven methods to create the best solution for each customer, adding efficiency, flexibility, and value to their operations. J.B. Hunt services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, final mile, and more. J.B. Hunt Transport Services, Inc. stock trades on NASDAQ under the ticker symbol JBHT and is a component of the Dow Jones Transportation Average. J.B. Hunt Transport, Inc. is a wholly owned subsidiary of JBHT. For more information, visit www.jbhunt.com.