Saturday, April 30, 2011

TransForce buys out DHL's Canada operations

MONTREAL -- TransForce has struck a deal to buy the Canada operations of German-owned DHL Express for about $25 million.

"We're really in the big leagues now fighting UPS, Purolator and FedEx," TransForce CEO Alain Bedard said in an interview quoted by The Canadian Press

According to the Montreal Gazette, The deal will add $275 million to TransForce's existing courier and package unit's annual gross revenue, bringing the total to almost $1.3 billion. 

DHL has scaled-back much of its world-wide package delivery services in order to concentrated on international shipping.