Target acquisition bolsters delivery capabilities, brings new VP technology
MINNEAPOLIS — Target has acquired a transportation technology company and, in the process, gotten itself a VP technology.
Target announced Monday that it has agreed to acquire Grand Junction to improve and expand Target’s delivery capabilities and accelerate its investments and ongoing efforts to transform its supply chain. Upon the close of the deal, Rob Howard, Grand Junction’s founder and CEO, will become a VP technology at Target.
"Grand Junction’s technology and algorithms will help Target deliver to guests faster and more efficiently,” said Arthur Valdez, EVP, chief supply chain and logistics officer, Target. “This acquisition is part of Target’s ongoing efforts to strengthen Target’s supply chain to provide greater speed, reliability and convenience for guests.”
San Francisco-based Grand Junction has a software platform that is used by retailers, distributors and third-party logistics providers to manage local deliveries through a network of more than 700 carriers. Currently, Grand Junction is working with Target on its same-day delivery pilot at the Target store in New York’s Tribeca neighborhood. Upon deal close, Grand Junction’s employees will become Target team members.
“Target is seizing a tremendous opportunity to leverage local delivery as a retail differentiator,” said Howard. “We’re thrilled about helping to pursue this opportunity, and to join Target at this unprecedented time in retail.”
Fred’s names Alden president to board
Costco names new chairman
ISSAQUAH, Wash. — Costco has named one of its longtime directors chairman of its board of directors. The company on Thursday announced the board’s board election of Hamilton “Tony” James to the position.
James is Blackstone Group president and COO, as well as a member of Blackstone Group Management’s board of directors. He is a member of Blackstone Management Committee and sits on each of the firm’s investment committees. James has been a director of Costco since August 1988, becoming its lead independent director in 2005.