Ryder to acquire Supervalu subsidiary Total Logistic Control

rookietrucker · Dec 8, 2010

Ryder to acquire Supervalu subsidiary Total Logistic Control

Ryder System on Wednesday, Dec. 8, announced it has signed an agreement to acquire Holland, Mich.-based Total Logistic Control, an independently-run wholly-owned subsidiary of Supervalu. TLC is a provider of supply chain solutions to food, beverage and consumer packaged goods (CPG) manufacturers with supply chains throughout the United States.

Ryder, which will acquire TLC for cash under a stock purchase agreement, says the acquisition is expected to add about $250 million in annual revenue to its Supply Chain Solutions business segment. The acquisition is anticipated to be accretive to Ryders earnings per share in 2011 excluding one-time transaction costs. Subject to closing conditions and regulatory approvals, the acquisition is expected to close on Dec. 31.

Total Logistic Control is a well-known and highly regarded supply chain solutions provider in the demanding industry sectors that it serves, says Greg Swienton, chairman and chief executive officer of Miami-based Ryder. The company has a client-focused management team, operational expertise and strong, deeply established relationships with blue-chip Fortune 1000 clients operating in food, beverage and CPG, which are high-potential industry sectors that Ryders Supply Chain Solutions business segment has targeted for growth.
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old-six-pack · Dec 8, 2010

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