Logistics and transportation company Ryder announced Jan. 4 that it has completed two acquisitions that will accelerate growth in its supply chain solutions business, expand its eCommerce fulfillment network and add multi-client warehousing capability.
On Jan. 1, Ryder completed its acquisition of Whiplash, a national provider of omnichannel fulfillment and logistics services for approximately $480 million in cash.
With the expanded footprint enabled by this deal, Ryder said its eCommerce and omnichannel fulfillment solution is expected to deliver to anywhere in the U.S. within two days and to 60% of the country within one day.
The company had announced its intention to acquire Whiplash Dec. 13, noting that Whiplash offers scalable eCommerce and omnichannel fulfillment solutions to more than 250 brands from 19 warehouses.
In the second deal announced Jan. 4, Ryder completed the acquisition of Midwest Warehouse & Distribution System, a provider of warehousing, distribution and transportation solutions, on Nov. 1, 2021.
This transaction adds 17 warehouses — nine multi-client and eight dedicated-customer — that primarily serve food, beverage and consumer packaged goods (CPG) customers.
“The acquisitions are consistent with our strategy to accelerate growth in our higher-return supply chain business segment,” Ryder Chairman and CEO Robert Sanchez said in the announcement. “With Whiplash, we gain a formidable e-fulfillment network supported by a best-in-class technology platform. With Midwest, we gain a proven model for multi-client warehousing and distribution, a capability that we’ve been targeting for some time.”
Among the retailers that have partnered with Ryder is Bed Bath & Beyond Inc., which announced in July 2021 that it was “modernizing and reinventing it supply chain to significantly improve merchandise replenishment” through the partnership.
“Ryder is a clear leader in logistics, and we look forward to leaning on their expertise and capabilities to help modernize our supply chain and distribution network operations,” John Hartmann, chief operating officer for Bed Bath & Beyond, said when announcing the partnership.