TFI International Inc. says it has signed a deal to acquire Vedder Transportation Group, which specializes in the tank truck transport of food grade liquids and dry bulk commodities. TFI International logo is seen in this undated photo. THE CANADIAN PRESS/HO, TFI *MANDATORY CREDIT*
September 05, 2023 - 6:00 AM
MONTREAL - TFI International Inc. says it has signed a deal to acquire Vedder Transportation Group, which specializes in the tank truck transport of food grade liquids and dry bulk commodities.
Financial terms of the deal were not immediately available.
Vedder will join TFI International’s specialized truckload business segment.
Based in Abbotsford, B.C., Vedder has more than 155 tractors and nearly 300 trailing units, a food grade wash rack, as well as railcar transload and warehousing, and maintenance and repair facilities.
TFI says Vedder generates more than $80 million in annual revenue.
TFI chairman and chief executive Alain Bédard says the acquisition helps make TFI the premier Canadian coast-to-coast provider of food grade tank truck transportation services.
This report by The Canadian Press was first published Sept. 5, 2023.
Companies in this story: (TSX:TFII)
News from © The Canadian Press, 2023