J.B. Hunt Transport Services has entered a definitive agreement to purchase Cory 1st Choice Home Delivery for $100 million, funding using J.B. Hunt's existing revolving credit facility.
"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," says John Roberts, president and CEO of J.B. Hunt.
Cory provides home delivery services of big and bulky products in the U.S. and U.S. 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 annual deliveries.
"Cory's exceptional reputation for quality customer service complements our mission to be the best final mile provider in North America," says Nick Hobbs, executive vice president and president of Dedicated Contract Services at J.B. Hunt. "We are excited to welcome the employees, independent contractors, contract carriers and customers of Cory to J.B. Hunt."
Final Mile, a division of the company's Dedicated Contract Services business unit, operates one of the largest nationwide, commingled cross-dock operations and has the ability to serve 100 percent of the contiguous U.S. With the Cory acquisition, Final Mile will grow to include 100 locations and over 3.1 million square feet of warehouse and facilities space.