TFI International Purchases Hercules Forwarding, Expands Less-Than-Truckload Operations

TFI International Purchases Hercules Forwarding, Expands Less-Than-Truckload Operations

Montreal, Quebec, March 11, 2024 – TFI International Inc. (NYSE and TSX: TFII), a premier North American transportation and logistics provider, has officially acquired Hercules Forwarding, Inc., a prominent Less Than-Truckload (LTL) carrier known for its robust operations within the US and across the US-Canada border. Established in 1985, Hercules is a family-owned business with its US base in Vernon, California, and a Canadian office in New Westminster, BC. The company boasts a network of 31 terminals, operating over 210 trucks, nearly 600 trailers, and about 75 containers, and generates upwards of US $100 million in annual revenues.

Hercules is renowned for its non-unionized workforce dedicated to providing top-tier, damage-free shipping solutions to a diverse clientele in sectors such as consumer retail, HVAC/building products, automotive, industrial, third-party logistics, and food/beverage. The leadership team, including President Marty Burnham and CFO Melanie Burnham, will continue under TFI’s LTL business segment.

Alain Bédard, Chairman, President, and CEO of TFI International, emphasized, “This strategic acquisition significantly strengthens our LTL capabilities in the US while enhancing our cross-border service into Canada. It ensures a seamless partnership for Canada-to-US shipments and presents numerous synergistic opportunities across the border. We are particularly impressed by Hercules’ low claims ratio and their proficiency in managing premium freight in high-value sectors across North America.”

About TFI International: TFI International Inc. is a leading force in the North American transportation and logistics arena, with a vast network of subsidiaries operating throughout the United States and Canada. TFI International is committed to enhancing shareholder value through strategic acquisitions and effective management of its expansive network of wholly owned subsidiaries. These companies serve diverse segments including Package and Courier, Less-Than-Truckload, Truckload, and Logistics. TFI International is publicly traded on the New York Stock Exchange and the Toronto Stock Exchange under the symbol TFII. More details are available here.

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