J.B. Hunt’s acquisition of Cory 1st Choice Home Delivery is a done deal
Following an early January announcement in which it said it entered into a definitive agreement to acquire Secaucus, New Jersey-based Cory’s First Choice Home Delivery, Lowell, Ark.-based trucking and intermodal services bellwether J.B. Hunt Transport Services Inc. said today that acquisition is now complete.
J.B. Hunt said last month that the purchase price was $100 million, and J.B. Hunt said it will be financed with the company’s existing revolver credit facility.
“Cory’s customer-first mentality and focus on the consumer experience have made it one of the best in the furniture business,” said Nick Hobbs, executive vice president and president of Dedicated Contract Services at J.B. Hunt, in a statement. “Those values very much align with ours, and we are proud to welcome Cory to the J.B. Hunt family.”
Hunt officials said that Cory’s home delivery services will be integrated with J.B. Hunt Final Mile Services, a division of the company’s Dedicated Contract Services business unit. The Final Mile group operates one of the largest nationwide, commingled cross-dock operations and has the ability to serve 100% of the contiguous United States, it added. And with the Cory acquisition, Final Mile has grown to include 100 locations and more than 3.1 million square feet of warehouse and facilities space.
Established in 1934, Cory 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. The company utilizes more than 1,000 independent contractors, carriers and delivery drivers to complete more than 2 million annual deliveries.
This acquisition follows the J.B. Hunt’s 2017 acquisition of Special Logistics Dedicated, which expanded J.B. Hunt’s pool distribution and fulfillment delivery capabilities.
