Hub Group Acquires Choptank Transport

Oct 20, 2021 at 08:54 AM CST
Intermodal and logistics company Hub Group announced it acquired Choptank Transport Inc., which was founded in 2000 and is a provider of non-asset refrigerated transportation solutions. Hub Group reported it funded the $130 million acquisition with cash on hand. That included contingent compensation to the owners and senior management team of Choptank to incentivize their retention and drive continued growth of the business. Preston, Md.-based Choptank expects to generate over $450 million of annual revenue in 2021.

Oct 20, 2021 at 08:54 AM CST

Intermodal and logistics company Hub Group announced it acquired Choptank Transport Inc., which was founded in 2000 and is a provider of non-asset refrigerated transportation solutions. Hub Group reported it funded the $130 million acquisition with cash on hand. That included contingent compensation to the owners and senior management team of Choptank to incentivize their retention and drive continued growth of the business. Preston, Md.-based Choptank expects to generate over $450 million of annual revenue in 2021.