M&A Deal Summary

JB Hunt Acquires Zenith Global Logistics

On January 31, 2022, JB Hunt acquired transportation company Zenith Global Logistics from Bassett for 87M USD

Acquisition Highlights
  • This is JB Hunt’s 5th transaction in the Transportation sector.
  • This is JB Hunt’s 3rd largest (disclosed) transaction.
  • This is JB Hunt’s 5th transaction in the United States.
  • This is JB Hunt’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2022-01-31
Target Zenith Global Logistics
Sector Transportation
Buyer(s) JB Hunt
Sellers(s) Bassett
Deal Type Divestiture
Deal Value 87M USD

Target

Zenith Global Logistics

Conover, North Carolina, United States
Zenith Global Logistics is a specialized supply chain solutions provider, offering the home furnishings industry the control of an asset-based network to move products with greater efficiency, less damage, and a single source of visibility. Zenith Global Logistics is based in Conover, North Carolina.

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Buyer(S) 1

Buyer

JB Hunt

Lowell, Arkansas, United States
Category Company
Founded 1961
Sector Transportation
Employees34,718
Revenue 12.8B USD (2023)
DESCRIPTION
Entrance to J.B. Hunt's corporate headquarters in Lowell, Arkansas.
Entrance to J.B. Hunt's corporate headquarters in Lowell, Arkansas.

JB Hunt is a provider of transportation services to a diverse group of customers throughout the continental United States, Canada and Mexico. JB Hunt was formed in 1961 and is based in Lowell, Arkansas.

DEAL STATS #
Overall 5 of 6
Sector (Transportation) 5 of 6
Type (Divestiture) 1 of 2
State (North Carolina) 1 of 1
Country (United States) 5 of 6
Year (2022) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-30 Mass Movement

Foxborough, Massachusetts, United States

Mass Movement, Inc. is a supply chain solutions provider having more than 20 years of experience providing logistics, delivery, assembly, and installation services for the commercial fitness industry. Founded by Dom Simonetti and Jim Sullivan in 1996, the company has delivered two million-plus pieces of equipment to more than 3,500 fitness centers throughout North America.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-14 BNSF - Brokerage Operations

Fort Worth, Texas, United States

BNSF's Brokerage Operations provides third-party logistics services.

Buy -

Seller(S) 1

SELLER

Bassett

Bassett, Virginia, United States
Category Company
Founded 1902
Sector Furniture
Employees1,389
Revenue 390M USD (2023)
DESCRIPTION

Bassett is a manufacturer and marketer of high-quality home furnishings. Bassett Furniture Industries focus on providing consumers with a friendly environment for buying furniture and accessories. Bassett’s retail strategy includes stylish, custom-built furniture that features the latest on-trend furniture styles, free in-home design visits, and coordinated decorating accessories. Bassett was founded in 1902 and is based in Bassett, Virginia.

DEAL STATS #
Overall 1 of 1
Sector (Transportation) 1 of 1
Type (Divestiture) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-06 Noa Home

Montréal, Quebec, Canada

Noa Home is a mid-priced e-commerce furniture retailer that has operations in Canada, Australia, Singapore, and the United Kingdom. Noa Home is based in Montréal, Quebec.

Buy -
Mergr

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