Hub Group Completes Previously Announced Acquisition of CaseStack, Inc.
Hub Group completed the acquisition of CaseStack, a non-asset based logistics provider offering retailer-driven collaborative consolidation programs and freight brokerage services; adds scale and enhances solutions for our customers
Transaction Highlights
- CaseStack is the market leader offering retailer-driven consolidation programs for consumer packaged goods companies
- Adds LTL-focused transportation brokerage
- Innovative, proprietary technology enables cost-saving, performance-enhancing supply chain services
- Expands Hub Group’s integrated supply chain solutions offering
- Expect significant network optimization opportunities
- CaseStack’s talented senior leadership team will remain with the business
- Non-asset based business model
- Accretive to earnings in 2019
OAK BROOK, Ill., Dec. 03, 2018 (GLOBE NEWSWIRE) -- Hub Group, Inc. (“Hub Group”; NASDAQ: HUBG), an innovative leader in freight transportation management, announced today that it has completed the previously announced acquisition of CaseStack, Inc. for $255 million in cash.
“The acquisition further advances our vision to diversify and enhance our service offering to our customers. We continue to be very impressed with the business that the CaseStack management team has built. We are delighted to welcome CaseStack’s employees, customers, carriers and service providers into the Hub Group family,” said Dave Yeager, Hub Group’s Chairman and Chief Executive Officer.
CERTAIN FORWARD-LOOKING STATEMENTS: Statements in this press release that are not historical, including statements about Hub Group’s, CaseStack’s or management’s earnings guidance, intentions, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently uncertain and subject to risks and should be viewed with caution. Forward-looking statements may contain words such as “expects”, “expected”, “believe”, “projected”, “estimate”, or similar words, and are based on management’s experience and perception of historical trends, current conditions, and anticipated future developments, as well as other factors believed to be appropriate. We believe these statements and the assumptions and estimates contained in this release are reasonable based on information that is currently available to us. Such statements should be viewed with caution. Actual results or experience could differ materially from the forward-looking statements as a result of many factors. Factors that could cause actual results to differ materially include the integration of any acquisitions and expenses relating thereto, the future performance of Hub’s Intermodal, Truck Brokerage, Dedicated and Unyson Logistics business lines, the amount and timing of strategic investments by Hub Group, the failure to integrate critical information technology systems, retail or other customers encountering adverse economic conditions and the factors listed from time to time in Hub Group’s SEC reports including, but not limited to, the annual report on Form 10-K for the year ended December 31, 2017. Hub Group assumes no liability to update any such forward-looking statements.
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ABOUT HUB GROUP: Hub Group is a world-class supply chain solutions provider that offers multi-modal transportation services throughout North America, including intermodal, truck brokerage, dedicated and logistics services. As a publicly traded company with over $3.5 billion in revenue, Hub Group’s organization of over 4,000 employees delivers innovative, customer-focused solutions and industry leading service to help customers better control supply chains and their costs. For more information, visit hubgroup.com.
Contact: Maralee Volchko - Hub Group; 1-630-271-3745 / [email protected]
