North America based transport management company, Hub Group, has announced the acquisition of logistics services provider, TAGG Logistics.
The acquisition bolsters Hub Group’s presence in the consolidation and fulfilment space, while adding a complementary e-commerce offering to service its customers’ multimodal transportation and logistics needs.
The addition of TAGG is also an important strategic milestone towards achieving Hub Group’s goal of $5.5 to $6.5 billion USD of revenue by 2025.
Hub Group Chairman and CEO, David Yeager, said the company was excited to welcome TAGG’s employees, customers and vendors.
“This acquisition advances our strategy to provide the industry’s premier supply chain solutions and expands our position in the long term, high growth e-commerce fulfillment sector,” he said.
The acquisition adds scale to Hub’s logistics service line and is expected to result in numerous complementary cross-selling opportunities for both Hub’s and TAGG’s customer bases.
“Our team is excited to join Hub Group,” said TAGG founder and CEO, Tod Yazdi.
“We share similar values of service, integrity and innovation.
“We believe Hub Group’s capabilities and reputation for excellence, combined with our nationwide facility footprint and delivery capabilities, will unlock significant value for our customers.”
In other news, transport and logistics company, CEVA Logistics, has announced a new long-term agreement with exclusive European fashion company, BestSecret.