Hub Group acquiring Choptank Transport
Summary
Hub Group extends its supply chain solutions through the acquisition of leading cold-chain focused third-party logistics company, Choptank Transport. Hub Group intends to further invest in its refrigerated transportation offering by purchasing 550 refrigerated intermodal containers in 2022, bringing the size of its fleet to 1,000. The acquisition bolsters Hub Group’s position in the refrigerated transportation space and adds a complementary offering to serve its customers multimodal transportation and logistics needs. Hub Group President and Chief Operating Officer Phil Yeager, said the deal also "expands our reach, adds a new refrigerated capability and brings on a great management team and technology platform that will help us continue our growth. Choptank adds scale to Hub’s brokerage service line, with combined revenue of over $1 billion across dry van, refrigerated and LTL freight expected for 2021, and brings onboard the 3PLs proprietary technology platform that Hub will leverage to enhance its brokerage operation.