Hub Group to Expand its Mexico Intermodal and Cross-Border Service Offering through Joint Venture with EASO
08 Octubre 2024 - 7:30AM
Hub Group, Inc. (NASDAQ: HUBG) announced today that it entered into
a joint venture with EASO.
Founded in 1972 and headquartered in Mexico City, EASO is a
family-led, premier intermodal and trucking logistics provider in
Mexico. The Company specializes in intermodal, dedicated trucking,
truckload and freight brokerage services. Through a network of
terminals across Mexico, EASO serves the entire Mexican domestic
market and main logistics hubs in the U.S. using its intermodal
cross-border network.
EASO is the largest intermodal carrier in Mexico and will add
significant scale to Hub Group's intermodal and transportation
solutions business. EASO serves a diverse base of blue-chip
customers across a variety of modes. With a substantial increase in
cross-border trade activity from nearshoring, this partnership
maximizes Hub Group’s cross-border service offering and provides
increased intermodal conversion opportunities. The family will
continue leading and managing the joint venture, with support from
their existing management team and Hub Group.
“We are excited to welcome the EASO team and customers to the
Hub Group family,” said Phil Yeager, Hub Group’s President, CEO and
Vice Chairman. “The joint venture aligns with our long-term
investment strategy and further enables our vision to deliver the
premier supply chain solution. Our cultural alignment with EASO and
the family, increased scale and expanded network in Mexico will
lead to enhanced service and value for our customers.”
For the full year 2024, EASO estimates revenue of approximately
$115 million. The transaction is expected to be immediately
accretive upon close to Hub Group’s 2024 EPS.
Additional information related to this transaction can be found
on Hub Group’s Investor page, accessible here:
https://investors.hubgroup.com/
Jones Day LLP served as lead legal counsel and Raymond James
& Associates, Inc. was financial advisor to Hub Group on the
deal. Perez-Llorca / Gonzalez Calvillo served as legal counsel and
Bluejay Advisors LLC served as M&A adviser to EASO.
CERTAIN FORWARD-LOOKING STATEMENTS: Statements
in this press release that are not historical facts are
forward-looking statements, provided pursuant to the safe harbor
established under the Private Securities Litigation Reform Act of
1995. These forward-looking statements are not guarantees of future
performance and involve risks, uncertainties and other factors that
might cause the actual performance of Hub Group to differ
materially from those expressed or implied by this discussion and,
therefore, should be viewed with caution. Further information on
the risks that may affect Hub Group’s business is included in
filings it makes with the SEC from time to time, including those
discussed under the “Risk Factors” section in Hub Group’s most
recently filed periodic reports on Form 10-K and Form 10-Q and
subsequent filings. Hub Group assumes no obligation to update any
such forward-looking statements.
ABOUT HUB GROUP: Hub Group offers comprehensive
transportation and logistics management solutions. Keeping our
customers’ needs in focus, Hub Group designs, continually
optimizes, and applies industry-leading technology to our
customers’ supply chains for better service, greater efficiency,
and total visibility. As an award-winning, publicly traded company
(Nasdaq: HUBG) with over $4 billion in revenue, our nearly 6,000
employees and drivers across the globe are always in pursuit of
“The Way Ahead” – a commitment to service, integrity and
innovation. For more information, visit hubgroup.com.
SOURCE: Hub Group, Inc.
CONTACT: Lorna Williams, Investor Relations,
lornawilliams@hubgroup.com
Hub (NASDAQ:HUBG)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025
Hub (NASDAQ:HUBG)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025
