M&A Deal Summary

Hub Group Acquires Choptank Transport

On October 19, 2021, Hub Group acquired transportation company Choptank Transport for 130M USD

Acquisition Highlights
  • This is Hub Group’s 6th transaction in the Transportation sector.
  • This is Hub Group’s 4th largest (disclosed) transaction.
  • This is Hub Group’s 6th transaction in the United States.
  • This is Hub Group’s 1st transaction in Maryland.

M&A Deal Summary
Date 2021-10-19
Target Choptank Transport
Sector Transportation
Buyer(s) Hub Group
Deal Type Add-on Acquisition
Deal Value 130M USD
Advisor(s) Stifel, Nicolaus & Co., Inc. (Financial)
McAllister, DeTar, Showalter & Walker (Legal)

Target

Choptank Transport

Preston, Maryland, United States
Choptank Transport is a full-service, third-party logistics provider that specializes in truckload, refrigerated, frozen, dry van, flatbed, LTL, LTL refrigerated, and intermodal (rail) freight. Choptank Transport was founded in 1999 and is based in Preston, Maryland.

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Buyer(S) 1

Buyer

Hub Group

Oak Brook, Illinois, United States
Category Company
Founded 1971
Sector Transportation
Employees5,897
Revenue 4.2B USD (2023)
DESCRIPTION
Entrance to Hub Group's corporate headquarters in Oak Brook, Illinois.
Entrance to Hub Group's corporate headquarters in Oak Brook, Illinois.

Hub Group is an asset-light freight transportation management company providing intermodal, truck brokerage and logistics services. Hub Group was formed in 1971 and is based in Oak Brook, Illinois.

DEAL STATS #
Overall 6 of 8
Sector (Transportation) 6 of 8
Type (Add-on Acquisition) 6 of 7
State (Maryland) 1 of 1
Country (United States) 6 of 8
Year (2021) 1 of 1
Size (of disclosed) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-05 CaseStack

Santa Monica, California, United States

CaseStack, Inc. is a provider of logistics outsourcing services to mid-sized consumer packaged goods companies that sell products to retailers, distributors and other manufacturers.

Buy $225M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-22 TAGG Logistics

St. Louis, Missouri, United States

TAGG Logistics is a third-party logistics (3PL) provider specializing in order fulfillment, contract distribution services, and contract packaging, kitting, and assembly. TAGG Logistics is the nationwide fulfillment, distribution, and packaging provider built to deliver Your Business EverywhereSM by efficiently serving consumers when, where, and how they shop today. TAGG Logistics was founded in 2006 and is based in St. Louis, Missouri.

Buy $103M
Mergr

Product

Company

Legal