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J.B. Hunt headquarters in Lowell, Ark. (J.B. Hunt Transport Services)

announced Feb. 22 that subsidiary J.B. Hunt Transport has entered into a multiyear intermodal service agreement with that includes purchasing its intermodal assets.

The strategic service agreement is intended to increase current volume and capacity commitments. It also aims to enable the development of comprehensive intermodal solutions to drive long-term value for both organizations. J.B. Hunt also will acquire operational intermodal container and chassis fleets from Walmart.

J.B. Hunt Transport Services ranks No. 3 on the Transport Topics Top 100 list of the largest for-hire carriers in North America and No. 5 on the TT Top 100 list of the largest logistics companies.

Walmart ranks No. 2 on the TT Top 100 list of the largest private carriers.

We’re excited about this new multi-year intermodal service agreement with that will drive long-term value for both organizations. — J.B. Hunt 360 (@jbhunt360)

“Our customers trust us to develop solutions that scale and drive efficiencies across their ever-changing supply chains,” said Spencer Frazier, executive vice president of sales and marketing at J.B. Hunt. “Today’s announcement is a testament to the mutual trust and shared vision our companies have developed over time, and innovative arrangements like this one demonstrate J.B. Hunt’s disciplined approach to strategically allocating capital to advance our mission of driving long-term value for our people, customers and shareholders.”

J.B. Hunt has provided transportation services for the retail giant for decades. It also has a long-standing relationship with the rail industry, which was bolstered in recent years amid efforts to enhance service quality and consistency.

“Finding new ways to serve our customers and members and exceed their expectations is important to us,” said Fernando Cortes, senior vice president of transportation at Walmart. “Walmart’s long history of working with J.B. Hunt has many milestones of innovation and growth. This agreement will strengthen our commitment to delivering goods at an everyday low cost to our customers and members.”