Ryder System Inc. said on October 23 it has entered into an agreement to purchase IFS Holdings LLC, the parent of Impact Fulfillment Services of Burlington.

According to the Winston-Salem Journal, terms of the proposed deal were not disclosed, although Ryder said it is expected to close in November, subject to anti-trust regulatory approvals and other closing conditions.

IFS is a contract packaging, contract manufacturing and warehousing company, serving big consumer brands, primarily in the consumer-packaged goods, retail, and healthcare industries.

Ryder has committed to retaining IFS' workforce. The company has about 1,000 employees overall, including 116 working full-time in Burlington.

Altogether, Ryder would acquire 15 operations across Florida, Georgia, Illinois, North Carolina, Ohio, Pennsylvania, Texas, Utah and California.

Ryder said it would integrate the IFS facilities and operations into its supply-chain solutions business, including nine multi-client and six dedicated customer operations, totaling just under four million square feet.