Global transport and logistics provider Geodis is bolstering its U.S. e-commerce last-mile capabilities by acquiring Need It Now Delivers.
Need It Now is a provider of final-mile delivery and omnichannel logistics. It also offers same-day logistics. The New Jersey-based company, which employs approximately 2,000, is owned in part by management and private equity firm Palm Beach Capital.
Terms of the transaction were not disclosed. The acquisition is subject to regulatory reviews and approvals. Geodis expects to close on the deal by the end of this year. Until then, both companies will operate independently.
“The acquisition of Need It Now Delivers is a key step through which we will strengthen and diversify our offerings in the U.S., providing our customers with a global and integrated end-to-end freight network in the United States, from international transport to last-mile delivery,” said Marie-Christine Lombard, CEO of Geodis. “This new acquisition represents an important milestone as we continue to progress on our strategic plan, Ambition 2023.”
Need It Now expects revenues this year to exceed $750 million. The combined companies would have generated $3.7 billion in U.S. revenue in 2021, Geodis said.
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Geodis will have approximately 15,000 employees across 200 locations in the U.S. upon closing of the deal.
“Since our inception in 1987, Need It Now Delivers has scaled rapidly to position ourselves as an industry leader with a special focus on omnichannel and last-mile delivery,” said Eric Mautner, CEO of Need It Now Delivers. “Together with Geodis, our teams can continue to build upon this momentum to provide customers with a more expansive network of flexible, efficient and reliable services that will ultimately allow us to successfully meet projected industry dynamics such as continued e-commerce growth and increasingly complex supply chains that require the need for omnichannel capabilities.”
Need It Now operates 65 company locations and 300 distribution points in 22 states. It specializes in distribution, last-mile delivery and multichannel contract logistics.
Geodis has been growing rapidly in recent years, operating in 170 countries and employing over 44,000. Its expertise touches multiple points of the supply chain, including freight forwarding, contract logistics, distribution, and express and road transport.