GEODIS has reached an agreement to acquire substantially all of the assets of Velocity Freight Transport, a leading freight brokerage company based in Plano, Texas, from McLane Company, a subsidiary of Berkshire Hathaway.
“With the acquisition of Velocity, we are welcoming an exceptionally talented team of freight brokerage experts who have a deep understanding of the challenges and opportunities of today’s dynamic logistics and supply chain environment,” enthused Mike Honious, President & CEO of GEODIS in Americas. “For many reasons, they are an ideal fit for GEODIS. None greater than our common cultures - authentic, passionate teammates who are relentlessly dedicated to exceeding client expectations. This acquisition will expand our current freight brokerage capabilities and enable us to continue to aggressively grow our capacity solutions service for clients at a pivotal moment.”
The acquisition expands GEODIS’ Capacity Solutions offering in North America at a critical time as the industry continues to face ongoing driver and truck shortages. The acquisition of Velocity will help meet the increased customer demand for more transportation alternatives to ensure their supply chains remain agile and effective. Velocity provides freight brokerage services that include refrigerated and temperature-controlled freight, flatbed and less-than-load trucking, intermodal, van and specialty options.