Just shortly after announcing its acquisition of VIZIO, news of another pivotal deal has come forth for Walmart. The retailer has revealed that J.B. Hunt Transportation Services will acquire its intermodal assets as part of a long-term deal that reportedly includes volume and capacity commitments.
“Walmart’s long history of working with J.B. Hunt has many milestones of innovation and growth,” said Fernando Cortes, Walmart’s Senior Vice President of Transportation. “This agreement will strengthen our commitment to delivering goods at an everyday low cost to our customers and members.”
The multi-year deal will include the purchase of Walmart’s intermodal containers and Chassis. Reports from Yahoo! Finance stated that this is an expansion of Walmart’s relationship with J.B. Hunt.
J.B. Hunt’s Executive Vice President of Sales and Marketing Spencer Frazier also shared his thoughts on the transaction.
“Today’s announcement is a testament to the mutual trust and shared vision our companies have developed over time, and innovative arrangements like this one demonstrate J.B. Hunt’s disciplined approach to strategically allocating capital to advance our mission of driving long-term value for our people, customers, and shareholders,” said Frazier.
The size of the fleets and purchase price were not disclosed.
DMN will continue following this tactical transaction and more, so stay tuned.
