TFI International Acquires Vedder Transportation, Boosts Presence In Canada
Portfolio Pulse from Lekha Gupta
TFI International Inc (NYSE:TFII) has acquired Vedder Transportation Group, a company specializing in transporting food-grade liquids and dry bulk commodities tank trucks. The acquisition expands TFI's presence in Canada, making it the premier coast-to-coast provider of food grade tank truck transportation services. In Q2, TFI's operating cash flow was $200.4 million. Last month, TFI also acquired JHT Holdings, a logistics and transportation provider in North America.
September 05, 2023 | 2:43 pm
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TFI International's acquisition of Vedder Transportation Group expands its services and presence in Canada. However, the company's shares are trading lower by 2.77%.
The acquisition of Vedder Transportation Group is a strategic move for TFI International, expanding its services and presence in Canada. However, the company's shares are trading lower, indicating a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100