MARTEN TRANSPORT ANNOUNCES SALE OF ASSETS RELATED TO INTERMODAL BUSINESS

Core Viewpoint - Marten Transport, Ltd. has entered into an agreement to sell its intermodal business assets to Hub Group, Inc. for $51.8 million in cash, reflecting a strategic focus on core operations and growth opportunities [1][2][3]. Company Overview - Marten Transport is a leading temperature-sensitive truckload carrier in the United States, specializing in transporting food, beverages, and consumer packaged goods that require temperature control [5]. - The company operates across the United States, Mexico, and Canada, focusing on expedited movements for high-volume customers [5]. Transaction Details - The transaction involves the sale of over 1,200 refrigerated containers and related contracts, expected to close by the end of the third quarter, subject to customary closing conditions [2]. - Legal counsel for the transaction is provided by Fox Rothschild LLP [4]. Strategic Focus - Executive Chairman Randolph L. Marten emphasized that the transaction aligns with the company's integrated business strategy, allowing for investment in core operations and capitalizing on profitable organic growth opportunities [3].