Ryder to acquire Impact Fulfillment Services

Ryder entered into a definitive agreement in Q3 to acquire all of the outstanding equity of IFS Holdings, also known as Impact Fulfillment Services – IFS -. IFS specializes in contract packaging, contract manufacturing, and warehousing for some of the largest consumer brands in the U.S., primarily in the consumer packaged goods, retail, and healthcare industries. As part of the transaction, Ryder will acquire 15 operations across Florida, Georgia, Illinois, North Carolina, Ohio, Pennsylvania, Texas, Utah, and California. The transaction is expected to add approximately $250M in annual total revenue to Ryder’s supply chain solutions business segment and be accretive to shareholders. Ryder and IFS expect to complete the transaction in early November, subject to satisfaction of antitrust approvals and customary closing conditions. Ryder plans to retain IFS’ workforce of approximately 1,000 full-time employees. President of IFS Rob LeBaron will join Ryder as vice president of contract manufacturing and packaging. Founded 25 years ago, IFS specializes in contract manufacturing, contract packaging and assembly, display engineering, product launches, multichannel programs, and club store programs.