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TFI ownership as TForce Freight. In January 2021, UPS agreed to sell their freight business to Canadian rival TFI International for $800 million. UPS cited as rationale its plans to move the company's focus away from the domestic trucking market towards small package delivery, which had become more profitable due to the COVID-19 pandemic. The ...
In January 2021, UPS announced it had agreed to sell UPS Freight, its less-than-truckload freight business, to TFI International, a Canadian transport and logistics company, for $800 million. UPS said the move would allow it to focus on small-package delivery.
In January 2021, TFI agreed to purchase UPS' LTL and truckload subsidiary UPS Freight for US$800 million. At the time, the acquisition was the second largest deal in North American trucking history after the 2017 merger of Swift Transportation and Knight Transportation and made TFI one of the largest trucking companies in North America.
UPS Inc.'s (NYSE: UPS) sale of its less-than-truckload business, UPS Freight, to Canadian firm TFI International Inc. (NYSE: TFII) works out well for both parties as it relieves UPS of a noncore ...
UPS Airlines is a major American cargo airline based in Louisville, Kentucky. One of the largest cargo airlines worldwide (in terms of freight volume flown), UPS Airlines flies to 815 destinations worldwide. It has been a wholly owned subsidiary of United Parcel Service since its launch in 1988.
In March 2012, UPS announced its intention to acquire TNT Express for US$6.7 billion. However, the deal fell through in January 2013, after it was announced that UPS had failed to obtain permission from the European Commission , and as such, had been blocked on competition grounds.