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Highlights

  • The acquisition adds 1,200 refrigerated containers, making Hub Group the second largest temperature-controlled intermodal provider in North America.
  • Marten Intermodal generated USD 51.5 million in revenue over the twelve months ending June 30, 2025.
  • The deal is expected to be immediately accretive to Hub Group’s fourth quarter 2025 EPS.

Hub Group, Inc. (NASDAQ: HUBG) has announced a definitive agreement to acquire the intermodal assets of Marten Transport, Ltd.’s (NASDAQ: MRTN) intermodal division in a transaction valued at USD 51.8 million in cash. The acquisition, structured as an asset purchase, is expected to close by the end of the third quarter of 2025, subject to customary closing conditions.

The acquisition includes approximately 1,200 refrigerated containers, which will significantly expand Hub Group’s temperature-controlled intermodal capacity. Following the transaction, Hub Group will become the second-largest provider of temperature-controlled intermodal transportation services in North America.

Marten Intermodal serves around 100 shippers across the food and beverage industries, offering an intermodal solution that balances reliability and cost-efficiency when compared to over-the-road temperature-controlled transportation. Over the trailing twelve months ended June 30, 2025, Marten Intermodal recorded USD 51.5 million in revenue.

Hub Group anticipates operational synergies from expanded scale and network density, along with cross-selling opportunities across its business lines. The transaction is projected to be immediately accretive to earnings per share in the fourth quarter of 2025 and to contribute positively to earnings in 2026. It is also expected to enhance long-term returns on invested capital.

The legal and financial advisors for the transaction are Winston & Strawn LLP and Stephens Inc., respectively.