TransForce has completed the buy of Canadian less-than-truckload (LTL) transportation firm Vitran Corporation for USD 136 million.
In December 2013, TransForce signed an agreement to buy all issued and outstanding shares of Vitran Corporation through its indirect wholly-owned subsidiary, 2400520 Ontario.
The acquisition of Vitran will further enhance the company's density in the Canadian LTL market and provide synergies going forward, said TransForce chairman, president and chief executive officer Alain Bedard.
Bedard added, "Vitran will remain a standalone entity, under the leadership of Tony Trichilo, within the TransForce group of companies."
"We are looking forward to leveraging the strengths of the two companies to the benefit of our customers and shareholders. I would like to welcome all Vitran employees and management to the TransForce team."