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Ryder Completes Two Acquisitions to Expand E-Commerce Fulfillment Network and Add Multi-Client Warehousing Capability

| January 5, 2022

Whiplash and Midwest Warehouse & Distribution System deals to accelerate growth in Ryder’s higher-return supply chain solutions business; add proven e-commerce technology and operating platform

Ryder System, Inc. has completed the acquisitions of Whiplash, a national provider of omnichannel fulfillment and logistics services, and Midwest Warehouse & Distribution System (Midwest), a provider of warehousing, distribution, and transportation solutions.

Ryder completed the Whiplash transaction on Jan. 1, 2022 for approximately $480 million in cash. It is accretive to shareholders and is expected to add approximately $480 million in gross revenue to Ryder’s supply chain solutions business segment in 2022 and provide incremental growth to Ryder’s earnings in 2022. Additionally, the company completed the Midwest acquisition on Nov. 1, 2021. It is expected to add approximately $135 million in annual revenue to Ryder’s supply chain solutions business segment in 2022 and provide incremental growth to Ryder’s earnings in 2022.

Whiplash

With the Whiplash acquisition, Ryder expands its e-fulfillment network with scalable e-commerce and omnichannel fulfillment solutions, a proven technology and operating platform, an impressive roster of more than 250 customer brands, and 19 dedicated and multi-client warehouses totaling nearly seven million square feet with access to key port operations and gateway markets. With the expanded footprint, Ryder’s e-commerce and omnichannel fulfillment solution is expected to deliver to 100% of the U.S. within two days and 60% of the U.S. within one day.

Midwest Warehouse & Distribution System

The Midwest acquisition adds nine multi-client and eight dedicated-customer warehouses primarily serving food, beverage, and consumer packaged goods customers. Midwest’s warehouse space totals approximately seven million square feet and is supported by a company-owned fleet of trucks to service customers.

“The acquisitions are consistent with our strategy to accelerate growth in our higher-return supply chain business segment,” says Robert Sanchez, chairman and chief executive officer for Ryder. “With Whiplash, we gain a formidable e-fulfillment network supported by a best-in-class technology platform. With Midwest, we gain a proven model for multi-client warehousing and distribution, a capability that we’ve been targeting for some time. And, when you combine these expanded capabilities with Ryder’s end-to-end transportation logistics solutions, including our Ryder Last Mile delivery network for big-and-bulky goods, we are in a position to deliver significantly increased value for customers looking for more advanced supply chain solutions.”

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