Ryder System Acquires MXD Group For About $120 Mln

(RTTNews) - Ryder System Inc. (R) announced the acquisition of all outstanding equity of MXD Group, an e-commerce fulfillment provider with a national network of facilities, for approximately $120 million.

Ryder has acquired 109 MXD e-commerce fulfillment facilities across the U.S. and Canada, including 21 MXD-operated cross dock hubs, 16 dedicated operations, and a network of 72 third-party agent facilities. The acquisition also includes proprietary order management and visibility technology, which features real-time tracking and a customer service portal for rapid response and resolution.

The acquisition, completed on April 2, 2018, is expected to be nominally accretive to earnings in 2018. Ryder anticipates earnings growth in future years to come from introducing these services to its extensive current customer base and leveraging its sales and marketing capabilities to attract new customers.