J.B. Hunt Transport Services Inc. of Lowell said Thursday that its subsidiary had purchased RDI Last Mile Co. of South Easton, Massachusetts.
Financial terms of the deal were not disclosed, but J.B. Hunt said the deal was funded using its existing revolving credit facility.
"Growing our final mile delivery capabilities is a priority, and the acquisition of RDI further extends our expertise in furniture delivery," J.B. Hunt's President and CEO John Roberts said in a news release.
Founded in 1987, RDI provides home delivery services of big and bulky products in the northeastern United States. RDI uses contract carriers to perform primarily furniture deliveries and generates annual revenue of $35 million, J.B. Hunt said.
"Providing our customers with a comprehensive, high-quality delivery experience drives our final mile services," said Nick Hobbs, executive vice president and president of Dedicated Contract Services at J.B. Hunt. "RDI is a reputable furniture delivery provider, and we are excited to welcome them to J.B. Hunt."
Final Mile Services is a division of J.B. Hunt's Dedicated Contract Services business unit, which can serve 100% of the contiguous United States. RDI is the company's third acquisition in as many years.
J.B. Hunt (Nasdaq: JBHT) bought Cory 1st Choice Home Delivery in 2019 for $100 million and Special Logistics Dedicated LLC in 2017 for $136 million. With the RDI acquisition, Final Mile Services will expand its home delivery capabilities and grow to include more than 104 locations and 3.2 million SF of warehouse and facilities space, J.B. Hunt said.
