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Ryder System, which provides commercial fleet management, transportation services, and a supply chain platform, said it has acquired e-commerce fulfillment provider MXD Corp for $120 million.
The goal for Ryder is to bolster its omnichannel retail transportation efforts and grab more last mile deliveries for large and bulky goods.
In the deal, Ryder gets 109 MXD e-commerce fulfillment facilities including cross dock hubs as well as order and facility management platforms.
MXD will give Ryder a wider footprint of 121 e-commerce hubs to better meet two-day delivery requirements as well as infrastructure to bring bulky goods to customers ordering online.
Ryder has global supply chain tools and a network in US and Canada. End customers are in verticals including auto, technology, health care, and industrial firms. Ryder has been investing in new markets such as commercial ride sharing, electric vehicles and
Here's a look at Ryder's broader transportation strategy:
For 2017, Ryder delivered revenue of $7.33 billion, with lease and rental sales of $3.28 billion and services sales at $3.57 billion. Fuel services accounted for the remainder. Net income for 2017 was $790.6 million.
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