Cando Rail & Terminals (“Cando”), based in Manitoba, Canada, has acquired Savage Rail (“Savage Rail”) of the USA, making it North America’s market leader in first- and last-mile rail operating services and terminal infrastructure.

The acquisition will allow Savage to refine its business portfolio to achieve strategic growth opportunities. With operations across the USA, Savage Rail has rail assets in key markets along the Midwest, Gulf Coast, and Southeast corridors, which will benefit Cando’s plans to expand U.S. operations and strengthen its existing Canadian network.

Cando and Savage will now operate coast-to-coast in North America, with access to all six Class I railroads, as well as having 36 railcar storage or transload facilities, three short-line railways, and 80 first- and last-mile rail service operations.

Through its acquisition by Cando, Savage will be able to use capital from the sale to expand its existing food and fuel-focused businesses and develop new opportunities for its rail services team.

This is Cando’s fourth acquisition in just over two years, with a combined capital investment of more than $1 billion, and the acquisition of Savage Rail follows Cando’s recent acquisition of the Channelview Terminal and rail operations on the Houston Ship Channel.

The combined workforce of Cando and Savage across Canada and the U.S. totals more than 2,000 employees, and the acquisition is expected to be finalised in the second quarter of 2026.

In 2023, the Railway Association of Canada (RAC) awarded Cando its 2023 RAC Safety and Environment Award.

Jeff Roberts, President and CEO of Savage, commented that it is a great opportunity for the company, especially the additional offerings Cando can provide and the investment opportunities from this sale for Savage’s other businesses.

“Combining with Cando represents a logical next step in our growth journey and the continued evolution of our rail assets. Cando shares our commitment to deliver safe, reliable rail operations at critical points in our customers’ supply chains and provides meaningful opportunities for our people.”This combination allows us to preserve what makes our rail business special while giving our customers and teams access to broader resources and a North American platform that’s built for sustainable growth.

Mike Miller, Senior Vice President and Rail Services Leader, Savage Rail.

The industrial rail environment is fundamentally different than a decade ago – customer supply chains are increasingly continental, and they choose partners that can support their evolving needs with greater reach and efficiency. Bringing Cando and Savage Rail together will create the leading integrated rail terminal and infrastructure company in North America to meet these needs and beyond. By combining two highly complementary teams and capabilities with Cando’s strong financial profile, we’re creating a stronger, more resilient platform to support our customers, team members, and communities today and invest for the long term. We are excited to welcome the Savage Rail team to the Cando family.”

Brian Cornick, President & CEO of Cando Rail & Terminals