Ryder System Inc. announced it had reached an agreement to acquire substantially all the assets of Transpacific Container Terminal Ltd (TCTL) and CRSA Logistics Ltd (CRSA).
Ryder, a US-based global provider of supply chain, warehousing and transportation management solutions said it was also acquiring CRSA operations in Hong Kong and Shanghai, China. It added that the deal was expected to be finalized in late November and was subject to closing conditions.
CRSA Logistics operated as a leading provider of transpacific end-to-end transportation management and supply chain services for Canadian retailers, said Ryder. TCTL operated a Canadian network of off-dock import/export container terminal facilities.
"This strategic acquisition would add complementary solutions to Ryder's capabilities, including consolidation services in key Asian hubs, as well as deconsolidation operations in Vancouver, Toronto and Montreal. Additionally, the acquisition would increase Ryder's presence in the Canadian retail sector," stated a Ryder spokesman.
Once the acquisition was finalized, Doug Stewart, president of TCTL and CRSA Logistics, and David Seath, vice president of CRSA Logistics, would continue to lead the Canada-based and Asian operations as part of Ryder's management.
Headquartered in Port Coquitlam, British Columbia, TCTL provides drayage, transloading, import deconsolidation, export consolidation, warehousing, intermodal and other 3PL services in Canada. The company has facilities in Vancouver, Toronto and Montreal, and service relationships with the Canadian National and Canadian Pacific railroads.
CRSA Logistics is headquartered in Port Coquitlam, British Columbia and provides end-to-end logistics visibility, program management and vendor coordination for the members of the Canadian Retail Shippers' Association (CRSA). www.ryder.com