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UPDATE 1-Norbert Dentressangle to buy US-based Jacobson for $750 mln

(Adds details from call)

PARIS, July 31 (Reuters) - French logistics group Norbert Dentressangle is to buy U.S.-based Jacobson Companies from private equity fund Oak Hill Capital Partners in a deal worth $750 million aimed at giving it critical mass in the United States.

The global air, sea and land transport group said the transaction was on a debt-free and cash-free basis with a capped earn-out - extra rewards for the seller relating to future performance.

It will be funded through Norbert Dentressangle reserves and available credit lines and is expected to close mid-September.

Norbert Dentressangle CEO Herve Montjotin said the purchase was part of the family-controlled group's aim to become a top player in global supply-chain management.

The acquisition of Des Moines, Iowa-based Jacobson, which runs 3 million square metres of warehousing across 142 sites in the United States and a fleet of 350 tractor units and 1,225 trailers, will add $800 million dollars to revenue to reach some $6.8 billion.

It will make the French group "scalable" in the fast-growing U.S. logistics and transport market, Norbert Dentressangle said.

The Dentressangle family owns 67 percent of the business.

(Reporting by Mark John and Andrew Callus, Editing by Tim Hepher)