Hub Group announced that it entered into a joint venture with EASO. Transaction Highlights: Unique partnership adds significant scale to Hub Group’s intermodal business and drayage capabilities in Mexico; expands physical footprint via EASO’s network of terminals; Joint venture will be the largest cross-border and intra-Mexico intermodal company, positioning Hub Group to capitalize on nearshoring trends and providing meaningful growth opportunities; EASO has been expanding its cross-border presence and converting over-the-road freight to intermodal, resulting in over 30% YoY intermodal volume growth; Sizable synergy opportunities associated with cross-selling, operational integration, asset utilization and drayage enhancements; Immediately accretive upon close to Hub Group’s 2024 EPS prior to expected cross-sell and operational synergies
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