M&M Transport is a dedicated contract carrier that primarily provides specialty solutions for the retail and manufacturing verticals. Its top 20 customers include many Fortune 500 companies, Schneider stated in a press release.
The dedicated carrier deploys about 500 trucks and 1,900 trailers across 12 locations in the Northeast, Midwest, and Southwest.
“Both companies have a successful history of dedicated operational excellence, a reputation for superior customer service, and a common foundation of core values—so our cultures are an excellent match,” M&M Transport Founder Mark Warsofsky said. “Now, as a wholly owned subsidiary of Schneider, M&M Transport will continue to leverage our strengths while capitalizing on Schneider’s broad capabilities and resources to support continued growth and the consistent, reliable service that our customers expect from M&M Transport.”
The acquisition is expected to be immediately accretive to the earnings per share of Schneider (No. 7 on the FleetOwner 500: Top For-Hire Fleets of 2023), according to the release. M&M Transport financial results will be reported in dedicated operations as part of the truckload segment beginning in the third quarter of 2023.
Last month, Schneider was honored for the second consecutive year as the PepsiCo Asset Sustainability Carrier of the Year. The PepsiCo award recognized Schneider’s more than 20 years of service and support to the business alongside the company’s impactful sustainability progress.
Notably, Schneider earlier this year became the first third-party carrier to haul zero-emission shipments for PepsiCo globally. Schneider and PepsiCo’s commitment to net-zero emissions by 2040 is guided by PepsiCo Positive (pep+), an end-to-end transformation that puts sustainability at the center of how the company will create growth and value by operating within planetary boundaries.
On June 7, Schneider used a splashy ribbon-cutting at its South El Monte Intermodal Operations Center to mark the completion of a large-scale electric-vehicle charging depot that will support nearly 100 Freightliner eCascadia electric Class 8s by the end of the year, according to the company, which also claims its fleet of heavy EVs will be one the world's largest.
The multimodal provider of transportation, intermodal, and logistics services unveiled the depot as part of its partnership in California's Joint Electric Truck Scaling Initiative that puts billions of cap-and-trade dollars to work reducing greenhouse gas emissions.