Ryder Plans Acquisition of Logistics Services Provider Whiplash
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Ryder System Inc. has entered into a definitive agreement to acquire e-commerce and omnichannel fulfillment provider Whiplash, the company announced Dec. 13.
The acquisition price is set at approximately $480 million in cash.
The transaction is accretive to shareholders and subject to satisfaction of antitrust approvals and customary closing conditions.
Both companies expect to complete the transaction in late December or early January 2022.
“The acquisition of Whiplash is consistent with our strategy to accelerate growth in our higher-return supply chain business,” said Ryder CEO Robert Sanchez. “It also expands our e-commerce and omnichannel fulfillment network and reflects our continued focus on technology and innovation.”
Based in City of Industry, Calif., Whiplash provides services to more than 250 brands. Ryder expects to integrate its facilities, operations, technology, warehouse automation and robotics into its e-commerce fulfillment solution within the supply chain solutions business unit. Ryder also plans to retain its executive team and workforce.
“This announcement signals a new accelerated phase of growth for Whiplash that will benefit our current customers and dramatically enhance our ability to scale and deliver innovation for digitally-native brands and omnichannel retailers,” Whiplash CEO Jeff Wolpov said. “Ryder’s supply chain expertise, facility network, and last-mile transportation solutions are a perfect complement to the Whiplash e-commerce platform.”
Ryder Supply Chain Solutions ranks No. 11 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. It is also No. 11 on the TT Top 50 list of the largest logistics companies in North America. — Transport Topics
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