M&A TRANSACTION · 2024
Cardinal Logistics acquired by Ryder System
$297.0M· 0.30x revenue
Target
Cardinal Logistics
Concord, North Carolina
Dedicated contract carrier with 200 locations, 2,900 trucks, 3,400 drivers serving CPG, omnichannel, automotive
Acquirer
Ryder System
Strategic buyer
Disclosed financials at time of acquisition
Revenue
$1000.0M
EBITDA
—
Deal Value
$297.0M
EV/EBITDA
—
Context
This $297.0M acquisition of Cardinal Logistics by Ryder System sits in the trucking sub-vertical. Ryder System is acquiring as a strategic buyer; see how strategic acquirers typically price trucking businesses on our Trucking strategic buyer-pool page.
Source
Data sourced from Ryder System Press Release — primary source. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology
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