Both companies announced their agreement in a statement Monday, saying the deal is expected to close in the second quarter of 2021 pending regulatory approvals.
Approximately 90% of the acquired business will operate under a new name “TForce Freight,” which will continue to serve UPS’ less-than-truckload operations, according to
UPS Freight, which generated an estimated
TFI CEO
Bédard had said during a conference call with investors on Monday that
The companies also will enter into an agreement that will allow the trucks to continue to use UPS’ domestic package network to fulfill shipments for a period of five years.
All of UPS Freight’s 14,500 workers will become employees of TFI when the deal is finalized,
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