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Ryder System Inc. has signed an agreement to acquire Total Logistic Control, a subsidiary of Supervalu based in Holland, Mich. TLC is a provider of supply-chain services to food, beverage and consumer packaged goods manufacturers in the U.S. Ryder said it will acquire TLC for cash under a stock purchase agreement. It expects the deal to add approximately $250m in annual revenues to its Supply Chain Solutions business segment. The acquisition is due to be finalized on Dec. 31, 2010, subject to closing conditions and regulatory approvals. Services provided by TLC include distribution management, contract packaging and engineering. The company operates 34 facilities consisting of 10.6 million square feet of dry and temperature-controlled warehousing across 13 states. Ryder said TLC's management team and 2,500 employees are expected to continue in similar roles under its ownership.
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