Walmart and J.B. Hunt Enter Strategic Intermodal Partnership

J.B. Hunt Transport Services Inc. announced on February 22 that J.B. Hunt Transport Inc., a subsidiary of the company, has entered into a multi-year intermodal service agreement with Walmart. The arrangement includes J.B. Hunt's acquisition of Walmart's intermodal assets.

The carrier noted that the strategic service agreement increases the companies' existing volume and capacity commitments and enables the development of comprehensive intermodal solutions. In conjunction with the service agreement and increased commitments, J.B. Hunt will acquire Walmart's operational intermodal container and chassis fleets.

J.B. Hunt has worked closely with Walmart for decades, providing effective transportation solutions. Spencer Frazier, Executive Vice President of Sales and Marketing at J.B. Hunt, said: "Today's announcement is testament to the mutual trust and shared vision our companies have developed over time, and such innovative arrangements demonstrate J.B. Hunt's disciplined approach to strategically allocating capital in advancing our mission to create long-term value for our people, customers, and shareholders."

Key Highlights:

• A multi-year intermodal service agreement has been established between J.B. Hunt and Walmart.

• The agreement includes J.B. Hunt's acquisition of Walmart's intermodal assets.

• The agreement increases both companies' existing volume and capacity commitments.

• J.B. Hunt and Walmart have maintained close business collaboration for decades.

• The agreement is viewed as a result of mutual trust and shared vision.

News Link: https://www.supplychainbrain.com/articles/39142-jb-hunt-buys-walmarts-intermodal-assets