TFI International Signs Agreement to Acquire Gusgo Transport
June 12 2020 - 11:09AM
TFI International Inc. (NYSE and TSX: TFII), a North American
leader in the transportation and logistics industry, today
announced that it has signed a definitive agreement to acquire
privately held Gusgo Transport, a container transport and storage
company operating out of Vaughan, Ontario. The business to be
acquired includes Gusgo Transport, Seatainer Transport and
Seatainer Terminals. Founded in 1969, Gusgo is a
customs-bonded carrier, providing its customers with reliable and
cost-effective local and cross-border container
transportation. With its 4 company trucks and 48 owner
operators, Gusgo delivers both dry and temperature controlled
commodities in approximately a five hundred mile radius around the
Greater Toronto Area including delivery points throughout Ontario,
Quebec, New York, Pennsylvania, Ohio and Michigan. Gusgo
operates over 250 container chassis, and has capacity for storing
6,000 containers at its Vaughan location. Upon completion of
the transaction expected before the end of June, Gusgo will become
part of TFI International’s Truckload segment.
“We look forward to welcoming Gusgo’s talented
team to the TFI International family,” stated Alain Bédard,
Chairman, President and Chief Executive Officer of TFI
International. “With its 50-year history of providing
superior, reliable service, Gusgo is a superb cultural fit with
TFI’s customer-centric approach. Operationally, we see
numerous synergies across our combined real estate footprint, as
well as for our equipment sales, purchases, and overall
utilization. In addition, by joining the TFI group of
companies, Gusgo will be able to leverage our growing resources
across North America to enhance its own growth and
profitability. This exciting transaction is another important
step in the ongoing expansion of our Specialized Truckload
operations, and we look forward to watching Gusgo’s continued
growth under the TFI International umbrella.”
ABOUT TFI INTERNATIONAL
TFI International Inc. is a North American
leader in the transportation and logistics industry, operating
across the United States, Canada and Mexico 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 Inc. is publicly traded on the
New York Stock Exchange and the Toronto Stock Exchange under the
symbol TFII. For more information, visit www.tfiintl.com.
For further information:Alain BédardChairman,
President and CEOTFI International
Inc.647-729-4079abedard@tfiintl.com
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