J.B. Hunt Transport Services Inc., a North American supply chain services provider, has acquired the assets of Bassett Furniture Industries‘ subsidiary, Zenith Freight Lines, a furniture manufacturer and retailer LTL transportation service, for $87 million. The transaction is expected to close by February 28, 2022.
Zenith posted revenue of $87 million in November 2021, with Bassett representing one-third of its business. The acquisition will expand J.B. Hunt’s Final Mile Services®, a nationwide cross-dock operation, with 116 locations and over 3.5 million square feet of warehouse and facilities.
John Roberts, president and CEO of J.B. Hunt. said, “This investment enhances J.B. Hunt’s furniture delivery capabilities by expanding our nationwide, end-to-end supply chain solution for our customers, and we look forward to establishing a long-term connection with Bassett, a manufacturer and retailer of high-quality home furnishings and a leader in the industry.”
“The sale of Zenith to J.B. Hunt represents the culmination of our life’s work in the furniture transportation industry,” said Jack Hawn, president of Zenith. “Becoming a part of J.B. Hunt will advance the quality service we have established by providing scalable, efficient solutions to the furniture industry.”