GEODIS Acquires Velocity Transport, Expanding Freight Brokerage Capacity

GEODIS, a global supply chain operator, has agreed to buy almost all of the assets of Velocity Freight Transport, Inc., a leading freight brokerage firm headquartered in Plano, Texas, from McLane Company Inc., a Berkshire Hathaway subsidiary.

The acquisition broadens GEODIS' Capacity Solutions offering in North America at a critical juncture in the industry's ongoing driver and truck shortages. Velocity's acquisition will help meet increasing customer demand for additional transport options to keep their supply chains flexible and effective. Velocity's freight brokerage services include:

• Refrigerated and temperature-controlled freight.
• Flatbed and less-than-load (LTL) trucking.
• Intermodal, van.
• Specialty options.

Velocity's staff will stay in Plano, significantly increasing GEODIS's presence in the Dallas-Fort Worth metro area, which employs up to 3,500 people.

GEODIS provides a full-service managed transportation line of business in the United States, with its Americas region headquartered in Brentwood, Tenn. Furthermore, GEODIS manages more than 150 warehouse sites for its clients, totaling more than 47 million square feet of storage capacity in the United States alone. GEODIS currently employs over 15,000 employees throughout North America.

ABOUT GEODIS
GEODIS is a top-rated global supply chain operator known for its dedication to assisting customers in overcoming logistical challenges. GEODIS' growth-focused offerings (Supply Chain Optimization, Freight Forwarding, Contract Logistics, Distribution & Express, and Road Transport), combined with the company's truly global reach (direct presence in 67 countries and a global network spanning 120 countries), resulting in top business rankings, including #1 in France, #6 in Europe, and #7 worldwide. GEODIS had approximately 41,000 employees worldwide in 2020 and generated €8.4 billion in revenue.