TFI International Acquires Vedder Transportation Group
05 September 2023 - 2:00PM
TFI International Inc. (NYSE and TSX: TFII), a North American
leader in the transportation and logistics industry, today
announced the acquisition of Vedder Transportation Group (“Vedder”)
which specializes in the tank truck transport of food grade liquids
and dry bulk commodities. Headquartered in Abbotsford, British
Columbia where it began operations in 1956, Vedder was one of the
first companies in Western Canada to use tanker trucks to transport
liquid food grade products, with operations now spanning British
Columbia to Manitoba. With more than 155 tractors and nearly 300
trailing units, a food grade wash rack, railcar transload and
warehousing, and maintenance and repair facilities, Vedder
generates annual revenues in excess of CAD $80 million. Run by
President Fred Zweep, Vedder will join TFI International’s
Specialized Truckload business segment.
“For many years TFI International has been a
leading provider of reliable, safe, and cost-effective tank truck
services to the liquid and dry bulk food grade market in Eastern
Canada. With the acquisition of Vedder, we add the premier provider
of such services in Western Canada along with a network of
strategically located facilities, making TFI the premier Canadian
coast-to-coast provider of food grade tank truck transportation
services,” stated Alain Bédard, Chairman, President and Chief
Executive Officer of TFI International. “We extend a warm welcome
to Fred, to Larry Wiebe whose family started the business in 1956
and who remains an advisor, and to their many colleagues throughout
the Vedder organization, and we look forward to watching their
future success under the TFI International umbrella.”
ABOUT TFI INTERNATIONAL TFI
International Inc. is a North American leader in the transportation
and logistics industry, operating across the United States and
Canada through its subsidiaries. TFI International creates value
for shareholders by identifying strategic acquisitions and managing
a growing network of wholly-owned operating subsidiaries. Under the
TFI International umbrella, companies benefit from financial and
operational resources to build their businesses and increase their
efficiency. TFI International companies service the following
segments:
- Package and Courier;
- Less-Than-Truckload;
- Truckload;
- Logistics.
TFI International Inc. is publicly traded on the
New York Stock Exchange and the Toronto Stock Exchange under the
symbol TFII. For more information, visit www.tfiintl.com.
For further information: Alain
Bédard Chairman, President and CEO TFI International Inc.
647-729-4079 abedard@tfiintl.com
TFI (NYSE:TFII)
Historical Stock Chart
Von Nov 2024 bis Dez 2024
TFI (NYSE:TFII)
Historical Stock Chart
Von Dez 2023 bis Dez 2024