MONTREAL, (April 21, 2005) — Canada’s largest trucking company has snatched up yet another for-hire carrier in its home province of Quebec.
Groupe Gregoire Inc. of Plessisville, Que. is the latest Canadian trucking company to come under the ever-growing umbrella of TransForce Income Fund — Canada’s largest trucking operator with almost 3,500 trucks and 9,000 trailers, spread across over two dozen trucking outfits. Financial terms of the transaction, expected to close on May 5, 2005, were not revealed.
Founded in 1987, Groupe Grégoire operates primarily in the transborder truckload segment and also provides bulk hauling services to customers across Canada and the U.S. The company — the 10th largest in Quebec — has 215 tractors, 475 trailers, and 45 owner operators. It generated more than $44 million in revenues in the last fiscal year.
“Groupe Grégoire 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 Grégoire, who will continue to run the company after the acquisition is completed,” said Alain Bedard, chairman, president and CEO of TransForce. “The addition of Groupe Grégoire enhances our capability in the growing transborder business and creates the opportunity for further synergies among our truckload companies.”
TransForce has acquired over half-a-dozen carriers in La Belle Province alone in the last couple years. Those deals were also complimented with major transactions in the West and Ontario, including, most recently, Porter Trucking in Calgary and Highland Transport in Toronto.
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