News & Insights
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By Paul Page
Hub Group Inc. said Monday it is acquiring logistics service provider CaseStack Inc. in a $255 million deal aimed at extending the freight company’s reach into retail supply chains that are being reset to meet e-commerce demands.
The acquisition, to be funded by cash and an existing credit line, will give Hub a business that generated $242 million in revenue and $22 million in earnings before interest, taxes, depreciation and amortization in the 12 months ending Sept. 30 through its logistics and freight brokerage services.