J. B. Hunt subsidiary scoops up Cory
J.B. Hunt Transport, a subsidiary of USA-based J.B. Hunt Transport Services, is to purchase Cory 1st Choice Home Delivery for USD 100 million. The deal will be funded with J.B. Hunt’s existing revolving credit facility.
John Roberts, president and CEO of J.B. Hunt: “This is a strategic investment that will further advance our final mile delivery capabilities of ‘big and bulky’ products to consumers and expand our expertise in furniture delivery.”
Based in New Jersey and founded in 1934, Cory provides home delivery services of big and bulky products in the continental USA and US territories using 14 warehouses and other customer-owned facilities. Cory utilizes more than 1,000 independent contractors, carriers and delivery drivers to complete over 2 million deliveries per annum. (mw)