J.B. Hunt to acquire Cory 1st Choice Home Delivery
Transportation provider expands last-mile delivery services with purchase of New Jersey-based company for $100 million.
In a move to expand its last-mile delivery services, J.B. Hunt Transport, Inc. has agreed to purchase Cory 1st Choice Home Delivery for $100 million, the company said January 9. J.B. Hunt will fund the acquisition through its existing revolving credit facility, the company said.
The Lowell, Ark.-based company said the deal furthers its capabilities for delivering "big and bulky" products to consumers and expands its expertise in furniture delivery. The announcement is yet another in the red hot last-mile delivery space, as logistics solutions providers strive to meet growing e-commerce delivery demands.
Based in New Jersey and founded in 1934, Cory 1st Choice provides home delivery services of big and bulky products in the continental United States and U.S. territories using 14 warehouses and other customer-owned facilities. Cory utilizes more than 1,000 independent contractors, carriers and delivery drivers to complete more than 2 million annual deliveries, according to J.B. Hunt.
Final Mile is a division of J.B. Hunt's Dedicated Contract Services business unit, which serves the contiguous United States. In 2017, J.B. Hunt acquired Special Logistics Dedicated, expanding its pool distribution and fulfillment delivery capabilities. With the Cory acquisition, Final Mile will grow to include 100 locations and more than 3.1 million square feet of warehouse and facilities space, the company said.
J.B. Hunt Transport, Inc. is a division of publicly traded J.B. Hunt Transport Services, Inc.
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