By Liz Young
Logistics company Hub Group says it has purchased trucker Forward Air’s final-mile delivery business for an estimated total cash consideration of $262 million.
Oak Brook, Ill.-based Hub Group says the acquisition adds appliance-delivery and installation services to its existing final-mile division.
Greeneville, Tenn.-based Forward Air says the business unit generated about $289 million in revenue for the 12 months ended Sept. 30.
The division has about 45 locations and more than 640 employees who will transfer over to Hub Group.
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