Ryder is to take over Total Logistic Control, a Michigan-based logistics provider serving food, beverage, and consumer packaged goods manufacturers.
TLC is subsidiary of Supervalu and the acquisition is expected to add some $250 million in annual revenue to Ryder’s Supply Chain Solutions business.
Ryder chairman and chief executive Greg Swienton said Total Logistic Control had relationships with blue chip Fortune 1000 clients in sectors that Ryder’ had targeted for growth.
“This acquisition expands our Supply Chain Solutions offering with firmly established, comprehensive food, beverage and CPG capabilities, to complement our suite of automotive, high-tech, industrial and retail groups. Additionally, the acquisition serves as an effective use of available financial leverage and is consistent with our direction for Ryder’s long-term leverage targets.”
TLC operates 34 facilities comprising 10.6 million square feet of dry and temperature-controlled warehousing across 13 states. TLC’s management team and 2,500 employees are expected to continue in similar roles with Ryder.