BENTONVILLE, AR - A strategic divestment is taking place at Walmart. It was recently announced that J.B. Hunt Transportation Services will acquire the retailer’s intermodal assets. It is part of a long-term intermodal 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.”
Yahoo! Finance reported that this is an expansion of Walmart’s relationship with J.B. Hunt. Specifically, the multi-year deal will include the purchase of Walmart’s intermodal containers and Chassis.
Spencer Frazier, J.B. Hunt’s Executive Vice President of Sales and Marketing, commented on the deal.
“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.
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