Cando Rail & Terminals to acquire Savage Rail

Cando Rail & Terminals and Savage Enterprises LLC yesterday announced they've executed an agreement for Cando to acquire Savage Rail.

The deal will make Cando, based in Winnipeg, Manitoba, the North American leader in first- and last-mile rail operating service and terminal infrastructure, Cando officials said in a press release. The agreement also positions Savage, based in Salt Lake City, for strategic growth opportunities by refining its business portfolio, Cando and Savage officials said.

Savage Rail provides rail-car switching, track services, rail-car shipment tracking and short-line rail operations. The company has operations across the United States and rail assets in key markets, including along the Midwest, Gulf Coast and Southeast corridors. The transaction will accelerate Cando’s U.S. expansion plans, while strengthening its existing network in Canada, company officials said.

Upon closing, the combined company is expected to operate a coast-to-coast network of assets in North America with no geographic overlap. When combined, operations will include 36 terminals, three short lines, 80 first- and last-mile operations, more than 2,000 employees and access to all six Class Is.

“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 Cando President and CEO Brian Cornick.

Cando will maintain its global headquarters in Manitoba and plans to establish a new U.S. headquarters in Salt Lake City.

Financial terms of Cando's acquisition of Savage Rail were not disclosed. However, the Savage Rail transaction is Cando’s fourth acquisition in just over two years, together representing more than $1 billion in capital investment, Cando officials said.

The acquisition is anticipated to close in second-quarter 2026, subject to closing conditions and customary regulatory approvals.