Hub Group Inc to Acquire Choptank Transport Inc. Transcript
Good morning, and welcome to the confidential announcement. My name is Brandon, and I'll be your operator for today. (Operator Instructions) I will now turn the call over to Phillip Yeager, and you may begin, sir.
Thank you for joining us today. Today, we announced the purchase of Choptank Transport for $130 million in cash, which represents another important step in our plan to grow our company to $5.5 billion to $6.5 billion in revenue by 2025. Through this acquisition, we are adding a scale and culturally aligned brokerage that expands our reach, add a new refrigerated capability and brings on a great management team and technology platform that will help us continue our growth.
Choptank is a leading truck brokerage firm with over $450 million of annual revenue and a specialization in refrigerated freight. Over the last 20 years, the company has built a stellar reputation for service, working with many leading consumer products and retail shippers and has been recognized as a top logistics
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