MONTREAL, Que. — TransForce Inc. says it is prepared to gobble-up Canpar Transport Ltd., one of Canada’s largest parcel delivery companies with a focus on non-expedited business-to-business parcels.
Canpar, a hub-and-spoke ground service, parcel delivery operation, was established in 1976 as a separate division of CP Trucks. Canpar had revenues of $140 million in fiscal 2001. The company employs over 1,600 people and currently operates more than 1,000 vehicles. It also provides transborder services through interline agreements with third party regional and national carriers.
Canpar is headquartered in Mississauga, Ont., but maintains 53 terminals throughout Canada.
“This is a key acquisition for TransForce and is consistent with our long-term growth strategy,” states Alain Bedard, TransForce’s president and chief executive officer (CEO). “Canpar is a profitable and well managed company and will generate both short- and long-term growth in terms of revenues and net income.”
Canpar will continue to operate independently under its existing name as a wholly-owned subsidiary of TransForce. John Cyopeck and his management team will remain at the helm of Canpar, with Cyopeck as its president and CEO.
The deal follows roughly two months after TransForce reached an agreement to acquire the assets of Japiro Transport, a fleet running both truckload and LTL freight within the province of Quebec. The new subsidiary of TransForce will operate under the name Transport Select.
Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry. All posts by Truck News