According to a new report published by CDL Life, Ryder System Inc. just announced that it acquired NC-based trucking company, Cardinal Logistics.
According to the report, the acquisition was completed on February 1, 2024. With the acquisition, Ryder will gain 200 locations, 2,900 power units, and 3,400 truck drivers from Cardinal. Cardinal Logistics was founded in Concord in 1997 by Tom Hostetler and Vin McLoughlin.
Hostetler and McLoughlin both worked for Ryder in the 1980s and will join Ryder to ensure a smooth transition. Hostetler released a statement saying “We chose Ryder to continue our legacy because of the company culture”.