[Photo: BNSF and J.B. Hunt/Business Wire]
BNSF Logistics, a North Texas-based leader in third-party logistics services, is on track to acquire its brokerage business from JB Hunt Transport Services Inc., according to a joint announcement.
BNSF Logistics, a division of Burlington Northern Santa Fe, headquartered in the Cypress Water development in Dallas, offers a variety of 3PL transportation services, from truckload and flatbed transportation to temperature-controlled expedited solutions, directly through its employees and agents. It offers. The acquisition does not include warehousing, retail specialty services, heavy goods transportation services or project services.
katie farmer
Katie Farmer, president and CEO of Fort Worth-based BNSF Railway, said in a statement that the agreement with J.B. Hunt reflects “a shared commitment to providing industry-leading intermodal transportation services to our customers. ” reflects this.
John Roberts, CEO of Arkansas-based J.B. Hunt, noted the strategic value of the deal and said it would support the company's mission to “build the most efficient transportation network in North America.” “A new step.”
As the company continues to work with BNSF Railway on innovative solutions that increase value, Roberts said the company will consolidate its 3PL services efforts and leverage investments JB Hunt has made in technology, including the JB Hunt 360° platform. He said he saw a “unique opportunity” to take advantage of.
Decades of partnership
BNSF CEO Farmer said the agreement continues “BNSF and J.B. Hunt's 30-year partnership.”
JB Hunt and BNSF Railway are long-time partners known for their disruptive contributions to the transportation industry. The two companies worked together to develop his two-tier transport solution in 1989, a groundbreaking “first in modern transport” for its time.
As recently as March 2022, the companies began increasing capacity in the intermodal market, Farmer said.
Last year, J.B. Hunt also announced plans to channel most of its intermodal transportation business, which accounts for nearly half of the company's total revenue, through its BNSF operations, according to the Wall Street Journal.
JB Hunt and BNSF deal expected to close by year-end
The acquisition of BNSF Logistics' brokerage business is expected to be completed by the end of the year, leveraging J.B. Hunt's existing cash balances, the companies said.
Upon completion of the transaction, the acquired brokerage business will become part of JB Hunt's Integrated Capacity Solutions division.
At that time, BNSF Railway and JB Hunt will enter into a long-term service agreement under which JB Hunt will continue to provide value-added 3PL services to BNSF Railway, according to the announcement.
JB Hunt Transport Services, listed on Nasdaq as JBHT, aims to be “North America's most efficient transportation network.” Today, the Fortune 500 company boasts more than 162,000 units of trailing equipment and approximately 1 million trucks providing services from intermodal transportation to refrigerated and truckload operations through its JB Hunt 360° digital freight marketplace. provides access to.
BNSF Railway, an operating subsidiary of Burlington Northern Santa Fe LLC, owned by Berkshire Hathaway, is a leading freight transportation company in North America with a network covering 32,500 truck miles across 28 U.S. states and three Canadian provinces. BNSF touts its efforts to move goods, from agricultural products to industrial products, and to power and supply America's homes and businesses.
J.B. Hunt executive Brad Hicks said in a statement that the company's logistics division has “demonstrated strong performance in serving customers of all sizes.”
Hicks said the acquisition of BNSF Logistics (complemented by JB Hunt's “best-in-class intermodal transportation” and 360box's power-only service offering) represents a growth opportunity for JB Hunt, adding that “BNSF Logistics' employees and agents “We will provide better service capabilities through our store model.” ”
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