Transportation and logistics company Geodis has agreed to acquire the American company Need It Now Delivers.
The acquisition is intended to strengthen Geodis’s American footprint and e-commerce services portfolio, with customers able to access the group’s end-to-end supply chain services in freight forwarding, road transportation, contract logistics and last-mile delivery. The agreement 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.
Need It Now Delivers operates a domestic road freight network with approximately 65 company locations and 300 distribution points, providing strong national coverage, particularly in the eastern USA. 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 US$750m in 2022.
Marie-Christine Lombard, CEO of Geodis, commented, “The acquisition of Need It Now Delivers is a key step through which we will strengthen and diversify our offerings in the USA, 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.”
Mike Honious, president and CEO of Geodis in Americas, added, “Our US supply chain business has consistently grown over the last 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.”
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 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.”
