Tfi international completes previously announced ups freight acquisition

Montreal, april 30, 2021 (globe newswire) -- tfi international inc. (nyse and tsx: tfii), a north american leader in the transportation and logistics industry, today announced that it has closed on the previously announced acquisition of ups freight, the less-than-truckload (ltl) and dedicated truckload (tl) divisions of united parcel service, inc. (nyse: ups), for us$800 million on a cash-free, debt-free basis before working capital and other adjustments. as previously stated, approximately 90% of the acquired business will operate independently within tfi international's ltl business segment under its new name, “tforce freight”, while acquired dedicated tl assets will join tfi's tl business segment.
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