Supervalu to sell logistic control unit to Ryder System
New York City -- Supervalu has reached an agreement to sell its Total Logistic Control subsidiary to Ryder System for an undisclosed amount.
The subsidiary provides logistics and supply chain management solutions to manage distribution, warehouse and transportation operations for food, drink and packaged-goods companies.
Ryder, the buyer, said it expects the acquisition to add about $250 million in annual revenue to its supply chain solutions business segment. Ryder said it expects the deal to help its bottom line in 2011, excluding transaction costs. The sale, subject to closing conditions and regulatory approvals, is expected to close on Dec. 31.