Savage Enterprises LLC of Midvale has announced plans to sell its railroad company, Savage Rail, to a major Canadian industrial railway service firm.
Savage has signed a definitive agreement to sell Savage Rail to Cando Rail & Terminals of Brandon, Manitoba, Canada. Terms of the transaction were not disclosed.
Founded in 1946 in American Fork by the Savage brothers, Kenneth, Neal and Luke, along with their father, Cornelius, Savage Enterprises is a major family-owned provider of transportation, logistics and materials management services. The company manages supply chains for industries like oil, gas, mining and agriculture. Savage employs more than 4,000 people at about 200 worldwide locations.
Cando is an employee-owned railway service provider founded in 1978 and specializes in first-mile and last-mile connectivity, railcar staging, storage and transloading. It operates over 50 locations across Canada and the U.S., serving industries like petroleum, agriculture and forestry.
Following completion of the acquisition, 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 North American 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, which should assure regulatory approval of the merger. The deal is expected to close in the second quarter of 2026.
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. Most notable of the Savage assets acquired in the transaction are the Savage Bingham & Garfield Railroad Co. and Savage Tooele Railroad.
Savage Enterprises 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, Savage said in a release.
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 $1 billion in total capital investment.
“This is a great opportunity for Savage Rail and Savage as a whole,” said Jeff Roberts, Savage’s president and CEO. “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.”
“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,” said Mike Miller, senior vice president and rail services leader at Savage Rail. “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.”
Brian Cornick, president and CEO of Cando Rail, said, “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.”