Ryder to buy Canadian truck leasing firm
Ryder, the Miami-based truck leasing, fleet management and supply chain management company, said it plans to acquire Canadian truck leasing firm Pollack NationaLease.
Under the sale agreement, expected to be finalized in October, the Fortune 500 company will gain more than 2,000 vehicles and more than 187 contract customers served in Ontario and New Brunswick. The new assets will operate under the Ryder brand.
Pollack NationaLease is privately held and provides full-service maintenance leasing and rental of trucks and trailers to transportation, manufacturing and service industries. Ryder said the deal would expand its network in Canada and establish a presence in the Milton area of metropolitan Toronto.
Terms of the deal were not disclosed.