A new acquisition for Hub Group
The North-American Hub Group has acquired Tagg Logistics (Tagg), a provider of e-commerce, B2B and omnichannel fulfilment solutions, including warehousing and transportation services. Since its foundation in 2006, Tagg has built up a portfolio of almost 372,000 sqm of warehousing space in USA.
The acquisition expands Hub Group’s capacities in e-Commerce, multimodal transportation and logistics. The purchasing price of USD 103.00 million was paid in cash. The Taag team will stay on board, since the Hub Group has granted contingent compensation to the Tagg senior management team as an incentive to remain in the company.
The acquired unit with 800 employees at its 18 facilities expects to generate approximately USD 200.0 million of revenue in 2022. The addition of Tagg is a milestone for achieving the Hub Group’s goal of USD 5.5-USD 6.5 billion of revenue by the year 2025. (sh)