• ITVI.USA
    14,959.950
    116.940
    0.8%
  • OTLT.USA
    2.933
    0.012
    0.4%
  • OTRI.USA
    19.350
    0.220
    1.2%
  • OTVI.USA
    14,926.910
    120.050
    0.8%
  • TSTOPVRPM.ATLPHL
    2.910
    -0.050
    -1.7%
  • TSTOPVRPM.CHIATL
    3.790
    0.080
    2.2%
  • TSTOPVRPM.DALLAX
    1.460
    0.170
    13.2%
  • TSTOPVRPM.LAXDAL
    3.740
    0.020
    0.5%
  • TSTOPVRPM.PHLCHI
    2.270
    0.030
    1.3%
  • TSTOPVRPM.LAXSEA
    4.150
    -0.010
    -0.2%
  • WAIT.USA
    131.000
    -2.000
    -1.5%
  • ITVI.USA
    14,959.950
    116.940
    0.8%
  • OTLT.USA
    2.933
    0.012
    0.4%
  • OTRI.USA
    19.350
    0.220
    1.2%
  • OTVI.USA
    14,926.910
    120.050
    0.8%
  • TSTOPVRPM.ATLPHL
    2.910
    -0.050
    -1.7%
  • TSTOPVRPM.CHIATL
    3.790
    0.080
    2.2%
  • TSTOPVRPM.DALLAX
    1.460
    0.170
    13.2%
  • TSTOPVRPM.LAXDAL
    3.740
    0.020
    0.5%
  • TSTOPVRPM.PHLCHI
    2.270
    0.030
    1.3%
  • TSTOPVRPM.LAXSEA
    4.150
    -0.010
    -0.2%
  • WAIT.USA
    131.000
    -2.000
    -1.5%
CanadaInternationalLogisticsNewsParcel

TFI buys courier services business as it polishes US logistics ‘diamond’

Canadian transportation company puts its money to work after raising $230 million in U.S. IPO as it works to grow its logistics business.

TFI International has acquired the courier services business of R.R. Donnelley & Sons Co. as the Canadian transportation company looks to grow and squeeze more profits from its logistics business in the United States.

TFI announced the deal Monday without disclosing the price. That follows February’s U.S. initial public offering, which raised $230 million that the company said would help it pursue acquisitions.

R.R. Donnelley’s courier business joins TForce Logistics U.S. The Montreal-based company said the deal will help build its market share for same-day parcel deliveries and network density in the Southeastern and Midwestern U.S.

“The combination with our existing TForce Logistics network builds our strategic mass and density while adding new geographies and an impressive customer base,” CEO Alain Bedard said in a statement.

The deal is part of TFI’s larger effort to build up its U.S. logistics business under TForce. 

Bedard told analysts in February that the U.S. logistics business is “one of the diamonds that’s going to be shined” in 2020.

TFI’s U.S. business was a laggard in an otherwise impressive performance for 2019. The company has been working to integrate and breathe efficiency into the assets it acquired from bankrupt courier BeavEx in 2019.

Nate Tabak

Nate Tabak is a Toronto-based journalist and producer who covers cybersecurity and cross-border trucking and logistics for FreightWaves. He spent seven years reporting stories in the Balkans and Eastern Europe as a reporter, producer and editor based in Kosovo. He previously worked at newspapers in the San Francisco Bay Area, including the San Jose Mercury News. He graduated from UC Berkeley, where he studied the history of American policing. Contact Nate at ntabak@freightwaves.com.