Cando Rail & Terminals has signed a definitive agreement to acquire Savage Rail. Savage Rail operates industrial rail services across the U.S., with assets concentrated in the Midwest, Gulf Coast and Southeast corridors. Following completion, the combined company will manage 36 railcar storage, staging and transload terminals, three short-line railways and 80 first- and last-mile rail service operations, with access to all six Class I railroads.
Cando said the acquisition will accelerate its expansion in the U.S. while reinforcing its existing Canadian network. The companies stated there is no geographic overlap between their terminal and rail service footprints, creating a coast-to-coast asset base in North America.
The combined workforce will total more than 2,000 employees across both countries. Cando will retain its global headquarters in Manitoba and establish a U.S. headquarters in Salt Lake City, Utah.
Savage Enterprises, the parent company of Savage Rail, will continue operating its other business lines, including its food and fuel-focused activities. The sale is intended to provide capital for further investment in those segments.
Cando noted that the Savage Rail acquisition follows its purchase of the Channelview Terminal and associated rail operations on the Houston Ship Channel. The Savage Rail transaction is Cando’s fourth acquisition in just over two years, representing more than EUR 920m (USD 1bn) in total capital investment.
The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the second quarter of 2026.
