TORONTO, Ont. — The deal is done. TransForce Inc. has successfully completed acquiring Vitran Corporation Inc. — an acquisition that has been in the works since late December.
Under the arrangement, TransForce acquired all of the issued and outstanding common shares of Vitran for $6.50 per share.
“The acquisition of Vitran will further enhance our density in the Canadian LTL market and provide synergies going forward,” said chairman, president and CEO of TransForce, Alain Bédard. “Vitran will remain a standalone entity, under the leadership of Tony Trichilo, within the TransForce group of companies. We are looking forward to leveraging the strengths of the two companies to the benefit of our customers and shareholders. I would like to welcome all Vitran employees and management to the TransForce team.”