Deal increases company's presence in intermodal segment, follows major US$558 million Con-Way acquisition last fall
MONTREAL—TFI International Inc. has purchased Brampton, Ont.-based transportation and logistics company National Fast Freight for an undisclosed price.
NFF is currently a subsidiary of Calyx Transportation Group Inc. and offers less-than-load, or LTL, intermodal services across Canada.
TFI, which was known as TransForce until it re-branded last month, said it will keep the Toronto-area company’s current management in place and intends to allow NFF to operate as an independent business unit.
“The acquisition of National Fast Freight is a strategic step which builds upon our existing foundation in the intermodal segment,” Alain Bédard, the company’s chairman, president and CEO, said in a statement.
The deal follows TFI’s US$558 million acquisition of Con-Way Truckload last fall—an agreement Bédard said made it a “somebody.”
The company officially changed its name in December. It said the switch reflects its evolving geographic footprint—particularly its expansion in the U.S. and Mexico.