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Boosts US presence in contract logistics and last-mile delivery
GEODIS has signed an agreement to acquire the American company, Need It Now Delivers. The acquisition will enable GEODIS to significantly increase its presence in the US in the areas of contract logistics and last-mile delivery.
The acquisition is a key step through which GEODIS will strengthen and diversify its offerings in the US, providing customers with a global and integrated end-to-end freight network in the US, from international transport to last-mile delivery.
Need It Now Delivers operates an expansive domestic road freight network with more than 65 company locations and 300 distribution points, providing strong national coverage, particularly in the eastern US. To offer its customers complete port-to-door logistics solutions, the Company specialises in distribution, last-mile delivery, and in multi-channel contract logistics across a wide range of high-growth industry verticals. Owned in part by management along with the private equity fund Palm Beach Capital, the New Jersey-based company employs approximately 2,000 people and is expected to reach revenues close to US$750.0 million in 2022.
This acquisition will strengthen GEODIS's American footprint and eCommerce services portfolio, with customers able to benefit from the Group's expertise in end-to-end supply chain expertise in freight forwarding, road transport, contract logistics and last-mile delivery.
Once the transaction is completed, the GEODIS group will employ roughly 15,000 people across more than 200 locations in the US and exceeding 17,000 in the Americas. The combined organisations of GEODIS and Need It Now Delivers would have generated US$3.7 billion for full year 2021 in the US.
The acquisition is subject to regulatory review and approvals, which are expected to be obtained by end of 2022. Both companies will operate as independent businesses and run their operations as usual until that time.