ACQUISITIONS

Canadian National finalizes acquisition of Iowa Northern

MONTREAL — Canadian National Railway and Iowa Northern Railway have officially joined operations, CN said Monday.

“This additional investment in the United States underscores our dedication to delivering outstanding rail service while driving economic growth,” CN CEO Tracy Robinson said in a press release. “CN customers and partners along this network will benefit from single-line service offering new options and access to new markets.”

Said Derek Taylor, CN’s chief field operating officer, “Both...

https://www.freightwaves.com/news/canadian-national-finalizes-acquisition-of-iowa-northern

Running on Ice: Organ transportation goes subzero

Hello, and welcome to the coolest community in freight!

You know what’s cool? This year’s Future of Freight Festival. It takes place Nov. 19-21 in Chattanooga, Tennessee. What makes it so cool is the beautiful fall foliage, the industry leader talks and the fun. Sure, all conferences say they’re the fun ones, but this one actually is. Not to mention, the Chattanooga Aquarium is quite chilly for the penguins. This year, subscribers to Running on Ice get a promo code exclusive to us! You can...

https://www.freightwaves.com/news/running-on-ice-organ-transportation-goes-subzero

Acertus acquires vehicle transporter RCG Logistics

Automotive logistics-as-a-service platform Acertus announced Tuesday its acquisition of transportation provider and vehicle resale company RCG Logistics. Terms of the deal were not disclosed.

The acquisition positions Acertus as a comprehensive platform capable of serving a wide range of vehicle types and offerings as the global automotive market is forecast to grow at a compound annual growth rate of 4.5% to $28.7 billion by 2030, according to Contrive Datum Insights.

RCG Logistics will...

https://www.freightwaves.com/news/acertus-acquires-vehicle-transporter-rcg-logistics

Western Flyer Xpress acquires Missouri truckload carrier’s assets

Oklahoma-based Diamond T Holdings, the parent company of truckload carrier Western Flyer Xpress, announced late Thursday the expansion of its freight network through an asset deal for the equipment and real estate of Indiana Western Xpress Inc.

Rumors had been circulating since late November that Western Flyer Xpress (WFX), headquartered in Oklahoma City, and newly created subsidiary IWX Motor Freight, which boasts 250 power units and 325 reefer trailers, would be “joining forces” after an email...

https://www.freightwaves.com/news/western-flyer-xpress-acquires-missouri-truckload-carriers-assets

Getir to acquire Gorillas — and Gorillas investors may go bananas

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Ultrafast grocery delivery startups were once seen as part of the future of last-mile delivery, with...

https://www.freightwaves.com/news/getir-to-acquire-gorillas-and-gorillas-investors-may-go-bananas

Did Kroger and Albertsons just create a grocery delivery powerhouse?

grocery store kroger albertsons

The grocery delivery wars have a new challenger.

Long a two-horse race between Amazon and Walmart, the playing field may have shifted with Kroger’s (NYSE: KR) acquisition of Albertsons (NYSE: ACI), combining the second- and fourth-largest grocers in the country in terms of market share.

The $25 billion purchase is among the largest in the history of the U.S. grocery industry and is currently under scrutiny by regulators with the Federal Trade Commission. But if the deal holds up, Kroger and...

https://www.freightwaves.com/news/did-kroger-and-albertsons-just-create-a-grocery-delivery-powerhouse

Walmart acquires automated grocery fulfillment firm Alert Innovation

Walmart Alert warehouse grocery fulfillment automation

As the largest retailer in the world, it’s no surprise that Walmart has poured money into innovative fulfillment technologies like drone delivery and advanced robotics.

In particular, the company has been focused on modernizing its warehouses with automation. But while it owns a majority stake in warehouse robotics firm Symbotic, which in May brought robots to all 42 of its regional distribution centers, the retailer until this week didn’t own a warehouse tech company outright.

That changed...

https://www.freightwaves.com/news/walmart-acquires-automated-grocery-fulfillment-firm-alert-innovation

Hub Group acquires fulfillment solutions provider Tagg Logistics

Hub Group truck

Hub Group, a provider of transportation and logistics management solutions, on Monday announced that it acquired e-commerce, business-to-business and omnichannel fulfillment company Tagg Logistics for $103 million in cash.

The acquisition will expand Hub Group’s warehouse footprint from about 5 million square feet to over 9 million square feet. And by introducing a complementary e-commerce offering to its platform, the move bolsters the company’s presence in the consolidation and fulfillment...

https://www.freightwaves.com/news/hub-group-acquires-fulfillment-solutions-provider-tagg-logistics

Descartes snaps up e-commerce shipping solutions provider XPS Technologies for $65M

Descartes office in Ontario

Descartes, the 17th-century French mathematician, built his philosophy around acquiring knowledge. Descartes, the 21st-century logistics business, meanwhile, is building its philosophy around acquiring companies.

The Ontario, Canada-based software-as-a-service solutions provider on Monday announced that it purchased e-commerce shipping solutions company XPS Technologies for $65 million, rising to $75 million if certain revenue-based targets are met. XPS is Descartes’ (NASDAQ: DSGX) sixth...

https://www.freightwaves.com/news/descartes-snaps-up-e-commerce-shipping-solutions-provider-xps-technologies-for-65m

American Eagle supply chain business snatches revenue growth from decline

American Eagle storefront

There’s no way around it — it’s been a difficult first quarter for retail. A few companies like Macy’s and Dollar Tree appear to have emerged unscathed, raising their quarterly guidance. But for the majority, including Walmart, Target, Kohl’s and Abercrombie & Fitch, weak Q1 2022 results drove downward revisions for the next quarter.

American Eagle (NYSE: AEO) is no exception. The outfitter missed on both revenue and EPS in what CEO Jay Schottenstein described on the company’s Q1 earnings call...

https://www.freightwaves.com/news/american-eagle-supply-chain-business-snatches-revenue-growth-from-decline

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