UPS Sells UPS Freight Unit to TFI International Inc.
Former Overnite Transportation to Become Part of Canadian Company
MONTREAL, QC - April 30, 2021 - GLOBE NEWSWIRE
TFI International Inc. has announced the acquisition of UPS Freight, the less-than-truckload (LTL) unit of UPS. The deal is expected to close in the second half of 2021, subject to regulatory approvals and closing conditions.
UPS Freight was founded in 1935 as Overnite Transportation. It was rebranded as UPS Freight in 2006 after UPS acquired Overnite.
TFI International is a leading provider of transportation and logistics services in North America. The company has a diversified portfolio of businesses that includes trucking, railcar, intermodal, and logistics. The acquisition of UPS Freight will strengthen TFI International's LTL network and provide the company with a broader range of services to offer its customers.
The sale of UPS Freight is part of UPS's strategy to focus on its core package delivery business. The company has been divesting non-core assets in recent years, including its international freight forwarding business and its truckload brokerage operations.
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