01:13:10 EDT Sun 05 May 2024
Enter Symbol
or Name
USA
CA



TFI International Inc
Symbol TFII
Shares Issued 85,804,808
Close 2023-09-05 C$ 184.96
Market Cap C$ 15,870,457,288
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TFI Int'l acquires Abbotsford's Vedder Transportation

2023-09-05 09:28 ET - News Release

Mr. Alain Bedard reports

TFI INTERNATIONAL ACQUIRES VEDDER TRANSPORTATION GROUP

TFI International Inc. has acquired Vedder Transportation Group, which specializes in the tank truck transport of food-grade liquids and dry bulk commodities. Headquartered in Abbotsford, B.C., where it began operations in 1956, Vedder was one of the first companies in Western Canada to use tanker trucks to transport liquid food-grade products, with operations now spanning British Columbia to Manitoba. With more than 155 tractors and nearly 300 trailing units, a food-grade wash rack, railcar transload and warehousing, and maintenance and repair facilities, Vedder generates annual revenues in excess of $80-million. Run by president Fred Zweep, Vedder will join TFI International's specialized truckload business segment.

"For many years, TFI International has been a leading provider of reliable, safe and cost-effective tank truck services to the liquid and dry bulk food-grade market in Eastern Canada. With the acquisition of Vedder, we add the premier provider of such services in Western Canada along with a network of strategically located facilities, making TFI the premier Canadian coast-to-coast provider of food-grade tank truck transportation services," stated Alain Bedard, chairman, president and chief executive officer of TFI International. "We extend a warm welcome to Fred, to Larry Wiebe, whose family started the business in 1956 and who remains an adviser, and to their many colleagues throughout the Vedder organization, and we look forward to watching their future success under the TFI International umbrella."

About TFI International Inc.

TFI International is a North American leader in the transportation and logistics industry, operating across the United States and Canada through its subsidiaries. TFI International creates value for shareholders by identifying strategic acquisitions and managing a growing network of wholly owned operating subsidiaries. Under the TFI International umbrella, companies benefit from financial and operational resources to build their businesses and increase their efficiency. TFI International companies service the following segments:

  • Package and courier;
  • Less than truckload;
  • Truckload;
  • Logistics.

TFI International is publicly traded on the New York Stock Exchange and the Toronto Stock Exchange under the symbol TFII.

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