Ryder System Buys Cardinal Logistics

Ryder System has acquired Cardinal Logistics, w

Cardinal, based in Concord, North Carolina, provides dedicated fleets and professional drivers to companies in consumer packaged goods, omnichannel, grocery, building products, automotive, and industrial markets. It also has complementary freight brokerage services, and, to a lesser extent, last-mile delivery and contract logistics services.

The acquisition adds 200 operating locations; 2,900 power vehicles; and 3,400 professional drivers to Ryder.

Ryder said it will fully integrate Cardinal’s operations, facilities, and equipment into its dedicated transportation, fleet management, and supply chain businesses.

“With complementary contractual services in many of the same industries, we gain greater economies of scale, and we can provide even more flexibility for transportation networks when seasonality and fluctuating demand inhibit the continuous use of resources,” said Steve W. Martin, senior vice president of dedicated transportation for Ryder, in a news release.

Cardinal Leadership Joins Ryder

Cardinal CEO Tom Hostetler and Cardinal founder Vin McLoughlin, who both spent the first eight years of their careers at Ryder in the 1980s and early 1990s, will also join Ryder.

McLoughlin, chairman of the board, and his team launched Cardinal Logistics Management in 1997. He grew up in a logistics family and by age 14 started working docks at Roadway to earn his spending money in his early days before starting his career at Ryder.

“We care deeply about our people and our customers, many of whom have been with us for decades. We also know Ryder," said McLoughlin, who was one of HDT’s 2011 Truck Fleet Innovators. "So, we know our people will have expanded opportunities in a larger, well-diversified company, and our customers will have access to an even greater breadth of products and services and the technology to support their continued growth."

Cardinal focused on combining technology and cultivating its people to build in-house expertise.

“We’ve come full circle, back to where we started, and that was purposeful,” says Tom Hostetler, CEO at Cardinal. “We chose Ryder to continue our legacy because of the company culture. We experienced firsthand Ryder’s people-first, customer-centric culture, and that had an impact on us as we built our own company.”

The transaction is expected to be accretive in 2025 after achieving synergies and completing integration efforts, Ryder said.