Hub Group has entered into an agreement to acquire Marten Transport ‘s intermodal assets , including approximately 1,200 refrigerated containers , becoming the second-largest provider of temperature-controlled intermodal solutions in North America.
“We are excited to more than double our fleet of temperature-controlled containers and leverage our existing intermodal network to serve Marten Intermodal customers,” said Phil Yeager, president, CEO and vice chairman of Hub Group.
The transaction is structured as an asset purchase of certain intermodal equipment and contracts from Marten Transport Ltd. for $51.8 million and is expected to close by the end of the third quarter.
Yeager mentioned that this opportunity aligns with their long-term investment strategy, expands their margin, and preserves capital flexibility. “We are committed to maintaining the strong service and growth momentum of our leading temperature-controlled intermodal offering,” he stated.
According to the investor filing, Hub Group’s refrigerated intermodal transport volume has overcome the cyclical downturn and reflects healthy demand from carriers.
The company said the new refrigerated container capacity provides equipment to meet existing customer demand and to establish refrigerated service in Mexico .
Marten Intermodal serves a diverse group of approximately 100 shippers in the food and beverage segments, offering competitive advantages such as reliable service and lower costs compared to temperature-controlled road transport.
The company generated $51.5 million in revenue during the trailing 12 months ending June 30, 2025.
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