Ryder System, Inc. has agreed to acquire substantially all the assets of the full service truck leasing, commercial truck rental and contract truck maintenance businesses of Lily Transportation Crop. The deal is expected to be finalized in January.
Ryder will acquire 1,560 full-service lease units from Lily’s 15 locations in Massachusetts, New Jersey, Maine, Pennsylvania, New Hampshire and Rhode Island. Lily Dedicated Logistics Systems will continue to be owned and operated by Lily.
“Lily is a well-known and respected, family-owned transportation provider in the Northeast recognized for their strong customer relationships and high levels of personalized service,” said Ryder chairman & CEO Greg Swienton. “Because of our shared values, this acquisition allows us to build on our strong customer foundation and expand our service network to further our value to customers of both companies.”