TFI International Acquires Hercules Forwarding
March 11 2024 - 5:01PM
TFI International Inc. (NYSE and TSX: TFII), a North American
leader in the transportation and logistics industry, today
announced the acquisition of Hercules Forwarding, Inc.
(“Hercules”), a Less-Than-Truckload (LTL) carrier with an emphasis
on intra-US and US-to-Canada cross-border transportation. Founded
in 1985 and family-owned with US headquarters in Vernon, California
and Canadian headquarters in New Westminster, BC, Hercules utilizes
a 31-terminal network and operates more than 210 trucks, close to
600 trailers and approximately 75 containers, generating more than
US $100 million in annual revenues. Hercules’ non-union team
focuses on direct shipper customers seeking high-quality,
damage-free service across diverse end markets including
consumer/retail, HVAC/building products, automotive, industrial,
3PL and food/beverage. Led by its president, Marty Burnham and CFO,
Melanie Burnham, Hercules will join TFI’s LTL business segment.
“This bolt-on acquisition fortifies our US LTL
portfolio while adding cross-border LTL into Canada, creating a
partner for our Canada-to-US shipments while offering synergy
opportunities on both sides of the border,” stated Alain Bédard,
Chairman, President, and Chief Executive Officer of TFI
International. “Hercules’ impressively low claims ratio and skill
at serving multiple premium freight markets moving high-value cargo
across the US and Canada aligns well with our focus and operating
philosophy. We are pleased to welcome Marty, Melanie, and the
entire Hercules team to the TFI International family.”
ABOUT TFI INTERNATIONAL TFI
International Inc. 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 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
Bédard Chairman, President and CEO TFI International Inc.
647-729-4079 abedard@tfiintl.com
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