Hub Group to Expand its Temperature-Controlled Intermodal Service Offering through the Acquisition of Marten Transport Intermodal
Transaction Highlights
- Acquisition includes approximately 1,200 refrigerated containers and makes Hub Group the second largest provider of temperature-controlled intermodal solutions in North America
- Operational synergies through additional scale and network density
- Cross-sell opportunities with additional refrigerated customers across business lines
- Immediately accretive to Hub Group's fourth quarter 2025 EPS and accretive to 2026 EPS
- Accretive to Hub Group's long-term returns on invested capital
- Marten Intermodal generated $51.5M of revenue over the trailing twelve months ended June 30, 2025
OAK BROOK, Ill., July 22, 2025 (GLOBE NEWSWIRE) -- Hub Group, Inc. (NASDAQ:HUBG) announced today that it has entered into an agreement to acquire the intermodal assets of Marten Transport, Ltd. Intermodal ("Marten Intermodal"), a division of Marten Transport, Ltd. (NASDAQ:MRTN).
Marten Intermodal provides temperature-controlled intermodal service to a diversified group of approximately 100 shippers in the food and beverage segments. Temperature-controlled intermodal transportation provides shippers the competitive advantages of reliable service and lower cost as compared to over the road temperature-controlled transportation.
"We are excited to more than double Hub Group's temperature-controlled container fleet and leverage our existing intermodal network to serve Marten Intermodal's customers" said Phil Yeager, Hub Group's President, CEO and Vice Chairman. "This opportunity aligns with our long-term investment strategy, expands margin, and preserves capital flexibility. We are committed to sustaining the strong service and growth momentum of our leading temperature-controlled intermodal offering."
The transaction is structured as an asset purchase of certain intermodal equipment and contracts from Marten Transport Ltd. for $51.8M in cash and is expected to close by the end of the third quarter subject to certain customary closing conditions.
Additional information related to this transaction can be found on Hub Group's Investor page, accessible here: https://investors.hubgroup.com/
Winston & Strawn LLP and Stephens Inc. are serving as lead legal counsel and financial advisor, respectively, to Hub Group on the Marten Intermodal transaction.
CERTAIN FORWARD-LOOKING STATEMENTS: Statements in this press release that are not historical facts are forward-looking statements, provided pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors that might cause the actual performance of Hub Group to differ materially from those expressed or implied by this discussion and, therefore, should be viewed with caution. Further information on the risks that may affect Hub Group's business is included in filings it makes with the SEC from time to time, including those discussed under the "Risk Factors" section in Hub Group's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. Hub Group assumes no obligation to update any such forward-looking statements.
About Hub Group: Hub Group offers comprehensive transportation and logistics management solutions. Keeping our customers' needs in focus, Hub Group designs, continually optimizes, and applies industry-leading technology to our customers' supply chains for better service, greater efficiency, and total visibility. As an award-winning, publicly traded company (NASDAQ:HUBG) with approximately $4 billion in revenue, our nearly 6,000 employees and drivers across the globe are always in pursuit of "The Way Ahead" – a commitment to service, integrity and innovation. For more information, visit hubgroup.com.
SOURCE: Hub Group, Inc.
CONTACT: Garrett Holland, Investor Relations, [email protected]
