GEODIS announced that it has signed an agreement to acquire the American company, Need It Now Delivers.
The acquisition will enable GEODIS to significantly increase its presence in the United States in the areas of contract logistics and last-mile delivery.
Need It Now Delivers operates an expansive domestic road freight network with more than 65 company locations and 300 distribution points, providing strong national coverage, particularly in the eastern United States. To offer its customers complete port-to-door logistics solutions, the company specializes in distribution, last-mile delivery, and in multi-channel contract logistics across a wide range of high-growth industry verticals. Owned in part by management along with the private equity fund Palm Beach Capital, the New Jersey-based company employs approximately 2,000 people and is expected to reach revenues close to $750m in 2022.
“Our U.S. supply chain business has consistently grown over the last 10 years,” said Mike Honious, GEODIS in Americas President & CEO. “With the services, capabilities, and the leadership team of Need It Now Delivers, we will expand our offerings and support the growth strategies of our customers.”
This acquisition aims to strengthen GEODIS’s American footprint and e-Commerce services portfolio, with customers able to benefit from the Group’s expertise in end-to-end supply chain expertise in freight forwarding, road transport, contract logistics and last-mile delivery.
Once the transaction is completed, the GEODIS group will employ roughly 15,000 people across more than 200 locations in the U.S and exceeding 17,000 in the Americas. The combined organizations of GEODIS and Need It Now Delivers would have generated $3.7bn for full year 2021 in the U.S.
The acquisition is subject to regulatory review and approvals, which are expected to be obtained by end of 2022. Both companies will operate as independent businesses and run their operations as usual until that time.