MIAMI — Ryder System executives say their purchase of Cardinal Logistics will allow for future growth and further strengthen the company’s position as a leading customized dedicated contract carrier in North America.
Based in Concord, North Carolina, Cardinal predominantly provides dedicated fleets and professional drivers to service complex route structures across distribution centers, suppliers and stores, as well as complementary freight brokerage services, according to a news release, which notes that Cardinal primarily serves the consumer packaged goods, omnichannel, grocery, building products, automotive and industrial verticals.
Ryder expects the transaction “to create synergies and to benefit both Ryder and Cardinal customers,” the news release notes.
Ryder will fully integrate Cardinal operations, facilities and equipment into its dedicated transportation, fleet management and supply chain businesses.
The transaction is expected to be accretive in 2025 after achieving synergies and completing integration efforts.
“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. “Combined with our end-to-end visibility and collaboration technology RyderShare, we can deliver tremendous value for customers looking for more dynamic and resilient transportation solutions.”
To help ensure a seamless transition, Tom Hostetler and Vin McLoughlin, who founded Cardinal in 1997 — and both of whom spent the first eight years of their careers at Ryder in the 1980s and early 1990s — will also join Ryder.
“We’ve come full circle, back to where we started, and that was purposeful,” said 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.”
Vin McLoughlin, chairman of the board for Cardinal, said his company cares “deeply about our people and our customers, many of whom have been with us for decades. We also know Ryder. 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. We’re excited for the future, knowing that our customers and employees are in the best possible hands with Ryder.”
Born in Pine Bluff, Arkansas, and raised in East Texas, John Worthen returned to his home state to attend college in 1998 and decided to make his life in The Natural State. Worthen is a 20-year veteran of the journalism industry and has covered just about every topic there is. He has a passion for writing and telling stories. He has worked as a beat reporter and bureau chief for a statewide newspaper and as managing editor of a regional newspaper in Arkansas. Additionally, Worthen has been a prolific freelance journalist for two decades, and has been published in several travel magazines and on travel websites.