Business, Forwarding, Freight News, Logistics

Geodis to buy US last-mile specialist

[ August 16, 2022   //   ]

Geodis has signed an agreement to acquire US-based operator, Need It Now Delivers. The French forwarder said it would increase its presence in the US in contract logistics and last-mile delivery.

Chief executive Marie-Christine Lombard commented: “The acquisition of Need It Now Delivers is a key step through which we will strengthen and diversify our offerings in the U.S., providing our customers with a global and integrated end-to-end freight network in the United States, from international transport to last-mile delivery. This new acquisition represents an important milestone as we continue to progress on our strategic plan, Ambition 2023.”

Need It Now Delivers operates a domestic road freight network with more than 65 company locations and 300 distribution points, and is  particularly strong in the eastern US. 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 $750 million in 2022.

Once the transaction is complete, the Geodis group will employ roughly 15,000 people across more than 200 locations in the US and over 17,000 in the Americas.

The acquisition is subject to regulatory review and approvals, which are expected to be obtained by end of 2022.