Acquisition further enhances TransForce’s LTL and TL networks across Canada
Montreal, Quebec, October 31, 2013 – TransForce Inc. (TSX: TFI, OTCQX: TFIFF), a North American leader in the transportation and logistics industry, is pleased to announce that it has entered into a definitive agreement to acquire all the shares of Clarke Transport Inc. and of Clarke Road Transport Inc., two subsidiaries of Clarke Inc. (TSX: CKI).
Clarke Transport Inc., a fully-integrated provider of less-than-truckload (“LTL”) intermodal transportation services, operates a network of 15 terminals across Canada. Clarke Road Transport Inc. offers regular and specialized truckload (“TL”) transportation services.
The transaction is subject to customary closing conditions and should close late 2013. The acquisition is expected to generate annual revenues of approximately $190 million. The two acquired entities employ a combined total of more than 600 staff and independent contractors.
“This acquisition will further enhance our density in the Canadian LTL and TL markets. The Clarke brand name is well recognized in the transportation and logistics industry and we are pleased to acquire entities known for their efficiency. We are pleased to welcome Mr. Dean Cull, President, and his team to the TransForce family. We expect this transaction to provide a sound return on investment to the benefit of our shareholders,” said Alain Bédard, Chairman, President and Chief Executive Officer of TransForce.