J.B. Hunt to Buy Part of Transplace

On Nov. 20, J.B. Hunt Transport Services Inc.announced that it will purchase a portion of Werner Enterprises Inc.’s ownership in Dallas-based Transplace.

The companies said they reached an agreement Nov. 15 for Hunt to buy Werner’s 10.28 percent equity interest in Transplace. Hunt, based in Lowell, and Werner, headquartered in Omaha, Neb., are two of the largest truckload carriers in the United States.

Werner will keep 5 percent ownership in Transplace. Terms of the transaction have not been disclosed. The transaction will become effective Dec. 31.

“Throughout the establishment and operation of Transplace as a consortium of carriers, Werner has been a valuable member of the founding group,” said Kirk Thompson, president and CEO of Hunt. “We consider it a real advantage and privilege to retain Werner as a 5 percent owner in Transplace, and we expect to continue to work together where appropriate in the logistics arena.”

Werner has agreed to relinquish its seat on the board of directors of Transplace, which will be transferred to J.B. Hunt.