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Transaction strategically expands TFI’s refrigerated transportation services
Montreal, Quebec, November 29, 2021 – TFI International Inc. (NYSE and TSX: TFII), a North American leader in the transportation and logistics industry, today announced the acquisition of D&D Sexton (“D&D”). Based in Carthage, Missouri, D&D has been a family-owned business for more than 40 years, specializing in refrigerated transportation and serving a long-standing customer base with both long-haul over-the-road services as well as local and shuttle operations.
D&D has more than 150 company drivers and owner operators, and close to 40 non-driving employees. Operating more than 120 tractors and nearly 400 refrigerated and dry van trailers, D&D generates annualized revenues in excess of $25 million. The acquired business will operate within TFI International’s CFI group of companies. Terms of the transaction were not disclosed.
“D&D is an excellent strategic fit with the organization, culture, and business model of our CFI operating company, adding strategic capacity and valuable, longstanding customer relationships to its temperature-controlled business”, stated Alain Bédard, Chairman, President and Chief Executive Officer of TFI International. “In addition to an overlapping refrigerated freight network, D&D brings significant experience in local and shuttle operations. We see multiple near-term opportunities around costs, routes and pricing to enhance profitability, as well as longer-term opportunities to optimize equipment and the capacity network design, taking D&D to the next level of excellence. We extend our warmest welcome to the entire D&D team and look forward to their many upcoming contributions to TFI International’s continued growth.”
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For further information: Alain Bédard Chairman, President and CEO TFI International Inc. 647-729-4079 [email protected]
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