Cando Rail & Terminals agreed to acquire the Savage Rail subsidiary of Savage Enterprises LLC in a deal that will create an extensive cross-border rail services network.
Privately-held Savage Rail is a leading U.S. rail provider with operations across the U.S. and a platform of assets in key markets, including along the Midwest, Gulf Coast, and southeast corridors.
Terms were not disclosed.
Cando, also privately held, in a release said that the transaction will accelerate its U.S. expansion plans while strengthening its existing network in Canada. The combined network – with no geographic overlap – will include 36 railcar storage, staging, and transload terminals; three short-line railways; and 80 first and last mile rail service operations, with direct access to all six Class I railroads.
“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,” said Brian Cornick, president and chief executive of Winnipeg-based Cando Rail & Terminals, in the release. “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.”
The companies said the acquisition will create new opportunities for Salt Lake City-based Savage’s rail services team by joining a large, rail-focused company and provide capital to invest in expanding its existing food and fuel-focused businesses.
“This is a great opportunity for Savage Rail and Savage as a whole,” said Savage President and Chief Executive Jeff Roberts. “We’re excited about the additional offerings Cando will provide for our rail services customers as a pure-play rail company as well as the investment opportunities that this sale will provide for our other businesses.”
The companies said that an expanded North American footprint will improve their reach, efficiency, and responsiveness. A broader, more connected rail network will benefit customers by supporting production certainty and enabling faster, more efficient movement of goods.
The combined workforces will number more than 2,000 employees across Canada and the U.S. Cando will maintain its Winnipeg headquarters and plans to open new U.S. headquarters in Salt Lake City.
Savage is Cando’s fourth acquisition over the past two years, totaling more than $1 billion in capital investment. The company most recently acquired Channelview Terminal and rail operations on the Houston Ship Channel in Texas.
The transaction is anticipated to close in the second quarter of 2026.
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