Ryder System, Inc. has announced an agreement to purchase the assets of Transpacific Container Terminal Ltd. (TCTL) and CRSA Logistics Ltd. The acquisition, subject to customary closing conditions, is expected to be finalized in late November.
CRSA Logistics is a provider of trans-Pacific end-to-end transportation management and supply chain services for Canadian retailers. TCTL operates a Canadian network of off-dock import and export container terminal facilities.
After the acquisition is finalized, Doug Stewart, president of TCTL and CRSA Logistics, and David Seath, vp of CRSA Logistics, will continue to lead the operations as part of Ryder’s management.
“Joining a recognized industry leader like Ryder is a unique opportunity for TCTL and CRSA Logistics, its employees and its customers,” said Stewart. “We look forward to bringing our knowledge and experience in managing Asian exports and distribution within Canada to strengthen Ryder’s comprehensive global logistics portfolio.”