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COMPETITION WATCH: Transforce announces intention to acquire Groupe Gregoire Inc.

MONTREAL, Que -- TransForce Income Fund just keeps on getting bigger. Canada's most aggressive acquirer of transpor...

MONTREAL, Que — TransForce Income Fund just keeps on getting bigger. Canada’s most aggressive acquirer of transportation companies has announced that it has signed a letter of intent to acquire Groupe Grgoire Inc. of Plessisville, Quebec.

Founded in 1987, Groupe Grgoire operates primarily in the transborder truckload segment of the industry and also provides bulk hauling services to customers across Canada and the Unites States. Its revenues in its last fiscal year exceeded $44 million.

The company employs 300 people, 45 owner operators and owns 245 tractor trucks and 600 closed trailers, specializing in transborder trucking between Canada and the U.S.

“Groupe Grgoire exemplifies a TransForce acquisition. It is a successful leader in its business, with excellent people and an outstanding management team led by Bertrand and Richard Grgoire, who will continue to run the company after the acquisition is completed,” said Alain Bedard, Chairman, President and Chief Executive Officer of TransForce. “The addition of Groupe Grgoire enhances our capability in the growing transborder business and creates the opportunity for further synergies among our truckload companies.”

The acquisition is expected to be completed by May 5th, 2005.

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