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TFI International has completed the previously announced acquisition of UPS Transport, the company said on April 30th.
The UPS division, which has focused on less-than-truck and dedicated truck loads, was bought by TFI, a Canadian company, in a $ 800 million deal announced in January.
TFI, a Montreal-based transportation and logistics company, said approximately 90% of the acquired business will operate independently within its LTL business segment under the new TForce Freight name. Former truck loads dedicated to UPS will be included in the TFIs truck segment.
UPS on April 29 announced that UPS Merchandise President Rich McArdle will retire in June. He has worked for the company for over 39 years and will assist transition to TFI until his retirement becomes official.
As part of the deal, TFI has entered into a five-year contract to use the UPS internal network to move packages.
In January, TFI CEO Alain Bdard said, “When we talked to the team there at UPS, we all agreed that this is not a one-on-one deal. I think time will prove that this is like an iceberg. What you see today is just one part of a transaction that can be much bigger over time.
Bdard in a conference call Feb. 8 with industry analysts said the company will place large breaks in purchases as it integrates UPS Transport, but noted that the company is constantly looking at small, strategic deals that could add to its business. .
TFI International ranks no. 11 in the Top Top Transport Top 100 list of largest rental carriers in North America. UPS Inc. ranked no. 1 in the TT 100 list. Transportation Topics
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