Ryder System has reached an agreement to acquire substantially all the assets of Gordon Truck Leasing, a full service truck leasing, commercial truck rental, and fleet services company headquartered in Philadelphia, Pa.

Ryder will acquire Gordon's fleet of approximately 430 full service lease units, 45 rental units, and 35 held-for-sale units and approximately 130 contract customers of Gordon Truck Leasing currently served by its five locations in the Philadelphia market.

"Ryder will be able to provide Gordon's customers with new resources, increased product offerings, and a large network of service locations which will help customers grow in the competitive marketplace," said Drew Gordon, president and owner of Gordon Truck Leasing.