GEODIS to acquire Need It Now Delivers to strengthen US offerings
Logistics provider 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. The acquisition will also consolidate GEODIS's position as one of the world's ten leading logistics providers.
Marie-Christine Lombard, CEO of GEODIS, 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 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 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 2,000 people and is expected to reach revenues close to £750 million in 2022. Eric Mautner, CEO of Need It Now Delivers, said: "Since our inception in 1987, Need It Now Delivers has scaled rapidly to position ourselves as an industry leader with a special focus on omni-channel 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 omni-channel capabilities." 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 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.
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