The French third-party logistics (3PL) powerhouse Geodis has acquired a New Jersey distribution and logistics service provider (LSP) in a move to “significantly” strengthen its U.S. offerings in the areas of contract logistics and last-mile delivery.
Geodis will acquire Need It Now Delivers LLC, which operates a road freight network spanning more than 65 company locations and 300 distribution points, providing national coverage focused on the eastern U.S. The company employs approximately 2,000 people and is expected to reach revenues close to $750 million in 2022.
Once the transaction is completed, those resources will push Geodis to a total U.S. workforce of roughly 15,000 people across more than 200 locations. And the combined financial organizations of Geodis and Need It Now Delivers would have generated $3.7 billion for full year 2021 in the U.S., Geodis said.
Terms of the deal were not disclosed, but Need it Now Delivers is owned in part by its own management team and in part by the private equity fund Palm Beach Capital.
According to Geodis, the acquisition will strengthen its American footprint and e-commerce services portfolio, which includes end-to-end supply chain expertise in freight forwarding, road transport, contract logistics, and last-mile delivery.
“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,” Marie-Christine Lombard, CEO of Geodis, said in a release.
