TRANSPORT and logistics company Geodis has signed an agreement to acquire the American company Need It Now Delivers.
Geodis said the acquisition will enable the company to increase its presence in the US in the areas of contract logistics and last-mile delivery.
Geodis CEO Marie-Christine Lombard said: “The acquisition of Need It Now Delivers is a key step through which we will strengthen and diversify our offerings in the U.S., providing our customers with a global and integrated end-to-end freight network in the United States, from international transport to last-mile delivery. This new acquisition represents an important milestone as we continue to progress on our strategic plan, Ambition 2023.”
Need It Now Delivers operates a domestic road-freight network. It has more than 65 company locations and 300 distribution points.
To offer its customers complete port-to-door logistics services, the company specialises 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 2000 people and is expected to reach revenues close to US$750 million in 2022.
Geodis in America president and CEO Mike Honious said the company’s US supply chain business has consistently grown over the past 10 years.
“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,” he said.
Need It Now Delivers CEO Eric Mautner said since his company’s inception in 1987, it has grown and has a special focus on omnichannel and last-mile delivery.
“Together with Geodis, our teams can continue to build upon this momentum to provide customers with a more expansive network of flexible, efficient and reliable services that will ultimately allow us to successfully meet projected industry dynamics such as continued e-commerce growth and increasingly complex supply chains that require the need for omnichannel capabilities,” he said.
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 organisations of Geodis and Need It Now Delivers would have generated $3.7 billion for full year 2021 in the US.
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.
