Ryder Acquires Efficiency Enterprises; Expands East Coast Fleet Network

MIAMI--(BUSINESS WIRE)--Nov 2, 2026--

Ryder System, Inc. (NYSE: R) has completed the acquisition of Efficiency Enterprises, a regional provider of fleet management, maintenance, and leasing solutions for trucks, trailers, and material handling equipment. The acquisition adds six new locations in Orlando, Tampa, and Fort Myers, Florida; Astoria, New York; Baltimore, Maryland; and Middletown, Delaware, to Ryder’s fleet services network. In addition, the acquisition will bring approximately 50 technicians and a fleet of roughly 1,200 units into Ryder’s operations. The Efficiency Enterprises fleet includes more than 900 power and trailer units and over 200 material handling equipment units.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261103373781/en/

“With Efficiency Enterprises’ experienced workforce, established customer relationships, and strong maintenance and rental operations, we are expanding our ability to support fleets operating in high‑demand logistics markets,” says Tom Havens, president of Fleet Management Solutions for Ryder. “We are pleased to welcome a talented team whose commitment to customers aligns with Ryder’s values and service standards.”

Founded in 1978 in Astoria, New York, by the Merinoff and Drucker families, Efficiency Enterprises began as a single‑site operation and later expanded into Florida, Maryland, Delaware, and New Jersey as customer demand grew. Over nearly five decades, the company built a reputation for reliable service, strong customer relationships, and operational excellence. Through the acquisition, Ryder expands its ability to support customers with integrated fleet management, maintenance, and transportation solutions. The transaction, which closed on November 1, 2026, is expected to add approximately $50 million in gross revenue to Ryder’s FMS business in 2027 and provide incremental growth to Ryder’s earnings. Financial terms of the deal are not disclosed.

To support a seamless transition and maintain uninterrupted services for customers, Efficiency Enterprises’ assets and operations will be integrated into Ryder’s network throughout 2026. Richard Barbato Jr., president of Efficiency Enterprises, will work closely with Ryder during the transition.

“For nearly 50 years, our family and associates have built Efficiency Enterprises on a commitment to our customers, our employees, and operational excellence,” says Richard Barbato Jr., president of Efficiency Enterprises. “We’re proud of the business we have built and the trusted relationships that have sustained it. Ryder shares the values that have guided our company, and we are confident it is the right home for our employees and customers as we begin this next chapter together.”

Strengthening Presence in High-Volume Freight Corridors

The six markets included in the transaction represent strategically important freight and distribution hubs across the Eastern United States. Central Florida continues to experience growth driven by distribution, e-commerce, and food and beverage logistics. Astoria provides access to dense urban delivery and last-mile operations across New York City, while Baltimore serves as a major gateway for port-related freight and manufacturing activity. Middletown sits within a key Mid-Atlantic distribution corridor connecting major East Coast markets. Together, these locations expand Ryder’s ability to support customers operating in diverse, high-demand transportation and logistics environments.

Building Ryder’s Growth Strategy

The acquisition supports Ryder’s broader strategy of investing in high-growth logistics markets and expanding customer access to fleet solutions across the United States. It reflects Ryder’s continued focus on increasing capacity, strengthening service coverage, and supporting customer growth in key industrial and distribution regions. To learn more about Ryder’s truck leasing and fleet maintenance solutions, visit https://www.ryder.com/en-us/fleet-leasing.

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a nearly $13 billion leading provider of outsourced logistics and transportation services throughout the United States, Canada, and Mexico. Ryder offers supply chain, dedicated transportation, and fleet management solutions that integrate every step of the supply chain port‑to‑door, including cross-border logistics, fleet and transportation management, warehousing and distribution, and final delivery to customers’ doorsteps. Ryder’s broad portfolio of services encompasses managed transportation, freight brokerage, dedicated contract carriage with professional drivers, full‑service fleet leasing and maintenance, commercial truck rental, automation and robotics, digital technologies, contract manufacturing and packaging, omnichannel retail fulfillment including e-commerce and last-mile delivery, and used vehicle sales. Serving more than 20 industries, Ryder manages approximately 240,000 commercial vehicles, operates nearly 800 maintenance locations, and runs approximately 320 warehouses totaling more than 100 million square feet. Ryder is consistently recognized for technology‑driven innovation and industry‑leading practices in safety, health, security, talent acquisition, and environmental management, and was most recently named to Fortune’s “America’s Most Innovative Companies” list. www.ryder.com

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements, including our expectations regarding the benefits and financial impacts of the transaction, should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Ryder-fms

Ryder expands its East Coast fleet network with the acquisition of Efficiency Enterprises, strengthening its truck rental, leasing, and maintenance footprint across key Northeast, Mid Atlantic, and Florida markets.

KYIV, Ukraine (AP) — Ukrainian President Volodymyr Zelenskyy said Russia bombed an aid distribution center and neighboring shelter in southern Ukraine on Monday, killing 18 people.

Authorities said 10 guided bombs targeted an area that included a school building used to distribute humanitarian aid and a nearby shelter in the village of Komyshuvakha in the southern Zaporizhzhia region.

The attack occurred a day after a localized ceasefire in the nearby Kherson region ended.

THIS IS A BREAKING NEWS UPDATE. Check back for updates. AP’s earlier story follows below.

KYIV, Ukraine (AP) —

Residents of Ukraine and Russia received phony emergency alerts from government-run mobile apps that were hacked, authorities in both countries said. The phony alerts in Ukraine included a warning about an imminent nuclear threat.

It was not clear if the attacks late Sunday in Ukraine and early Monday in Russia were related. Ukraine said its mobile app, which residents rely on to seek safety from Russian missile and drone strikes, was up and running again after being temporarily suspended. Russian authorities said efforts to restore its emergency alert mobile app were ongoing.

The cyberattacks came as a limited ceasefire expired Monday in Ukraine's southern Kherson region, where an agreement between Ukraine and Russia allowed humanitarian aid and evacuation missions into front-line areas in Russian-occupied territory.

Ukrainian authorities reported multiple Russian drone attacks in the region early Monday, hours after the ceasefire ended.

A Russian Telegram channel with links to the country's security services said Monday that a hacking group, Hitcore, claimed responsibility for the breach of the Ukrainian emergency alert system. The Associated Press did not independently verify the claim, and the identities, affiliations or motivations of the purported hackers remained unclear.

The alerts received by Ukrainians — making false claims of high radiation levels, a chemical threat and public disturbances in Kyiv — were written in English, Russian and Ukrainian. The English language alerts contained spelling and grammatical errors.

One of the messages, written in Russian, said: “Hi! There will be a nuclear threat across Ukraine. Do not worry, the Oreshnik is incoming,” a reference to a Russian ballistic missile.

There was little indication the fake alerts caused panic in Ukraine. Instead, there was a flood of humorous posts online, with social media users sharing photos of their pets relaxing and apocalypse-themed images generated by artificial intelligence. A photo shared of Kyiv Mayor Vitali Klitschko, a former international kickboxing champion, included the message: “It’s a good thing we have a boxer for a mayor.”

In a Telegram post late Sunday following the breach, Ukraine’s air raid alert channel said “unauthorized parties” had interfered with the app’s operation and warned users not to click on links in “suspicious notifications.”

Ukraine's state-run Center for Countering Disinformation urged people to monitor other emergency channels on social media while the cyberattack was being addressed.

A spokesman for Ukraine’s air force command, Yurii Ihnat, said in a television interview that the cyberattack had no impact on Ukraine’s security and defense operations.

In a statement, Russia’s Emergency Situations Ministry said hackers sent a false alert through its app at approximately 2:45 a.m. Moscow time on Monday across 33 of Russia’s 89 regions. It did not say who it believed carried out the attack.

The ministry said that the digital vulnerability exploited by the attackers had been identified and that “necessary measures” were being taken to prevent a similar breach. It also reassured Russians that the wider public alert system was working normally through SMS messages, media broadcasts and municipal sirens and loudspeakers.

Kremlin spokesperson Dmitry Peskov said all of Russia’s state agencies were under the constant threat of cyberattacks, including a growing number that use artificial intelligence.

“All government bodies must take steps to improve the cybersecurity of our digital resources,” Peskov said.

As the ceasefire in Ukraine's Kherson region came to an end on Monday, the regional administration said that a 62-year-old woman and a 73-year-old man were hospitalized with blast injuries in the city of Kherson.

The brief pause in fighting, which began on Oct. 27, was part of a humanitarian aid and evacuation mission in the Russian-occupied city of Oleshky, and marked the most significant truce between Kyiv and Moscow since Russia’s full-scale invasion began nearly five years ago.

Speaking to reporters in Kyiv on Monday, Ukraine’s ombudsman and lead civilian negotiator for the mission, Dmytro Lubinets, said he hoped the localized ceasefire and evacuation would act as a “model” for other such efforts. He said it could “add to the momentum” of three-way negotiations between Ukrainian, Russian and U.S. officials expected this month.

Ukraine’s general staff said Monday that Russia’s military had bolstered its drone defenses and replenished ammunition supplies in the area during the ceasefire.

Elsewhere in Ukraine, emergency services reported that drone strikes injured 12 people in the eastern Kharkiv region and damaged a refrigeration facility, greenhouses and residential buildings.

Five people were also reported injured in the Black Sea port city of Odesa, where a warehouse was targeted and homes were damaged.

Russia’s Ministry of Defense said Monday that it shot down 212 Ukrainian drones overnight, while the head of Russia’s Samara region, Gov. Vyacheslav Fedorishchev, said in a statement that local air defenses were repelling an aerial attack, but did not give further details.

Independent Russian media outlets later reported that Ukrainian drones had targeted one of Europe’s largest oil transport hubs in Samara.

Katie Marie Davies contributed to this report from Manchester, England.

Follow the AP’s coverage of the war in Ukraine at https://apnews.com/hub/russia-ukraine

This screenshot made on a smartphone shows a series of false alerts received late Sunday, Nov. 1, 2026 from an emergency alert mobile application that was subject to a cyberattack, in Kyiv, Ukraine. Third message in Russian reads "Hi! There will be a nuclear threat across Ukraine. Do not worry, the Oreshnik is incoming. Telegram channel: [link]", Fifth and sixth messages in Ukrainian read "Increased danger, Go to the shelter". (AP Photo) Photo taken with a smartphone.

St. Andrew's Cathedral in Russian-occupied Nova Kakhovka, is seen across the Dnipro River from the village of Kozatske, during a localized ceasefire linked to a humanitarian aid mission to Oleshky, Kherson region, Ukraine, Saturday, Oct. 31, 2026. (AP Photo/Evgeniy Maloletka)

A representative of the Nova Kakhovka administration walks past an unexploded Russian FPV drone during a localized ceasefire linked to a humanitarian aid mission to Oleshky, in the village of Kozatske, Kherson region, Ukraine, Saturday, Oct. 31, 2026. (AP Photo/Evgeniy Maloletka)

Oleh Tarabaka, head of the Nova Kakhovka military administration, left, and Vadym, a Ukrainian sergeant of the 42nd Marine Brigade, right, help evacuate Antonina, a local resident, as they walk past a destroyed residential building in an area contaminated with anti-personnel mines, during a localized ceasefire linked to a humanitarian aid mission to Oleshky, in the village of Kozatske, Kherson region, Ukraine, Saturday, Oct. 31, 2026. (AP Photo/Evgeniy Maloletka)

Rescue workers pull a family from the rubble of a residential building destroyed by a Russian airstrike in Zaporizhzhia, Ukraine, Saturday, Oct. 10, 2026. (AP Photo/Kateryna Klochko)