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Be the first with the news that moves the market- Transport and logistics company TFI International (TFII) is acquiring Grammer Logistics’s dry bulk business
- The business, Grammer Dry Bulk, mainly transports commodities such as cement, cement materials, sand, fly ash, salt, and lime
- Through the acquisition, TFI gains almost 100 drivers and owner operators, over 90 tractors, and over 150 tank trailers
- Grammer Dry Bulk will become part of TFI’s BTC East operating company, which is part of its Truckload division
- TFI International (TFII) is up 1.57 per cent and is currently trading at C$58.20 per share
Transport and logistics company TFI International (TFII) is acquiring Grammer Logistics’s dry bulk business.
The business in question, Grammer Dry Bulk, mainly transports commodities such as cement, cement materials, sand, fly ash, salt, and lime. It was originally established as part of Sterling Transport in the early 1990’s, but has grown to serve much of the south-east US region.
Grammer Dry Bulk’s range of serve currently covers Maryland, Virginia, North and South Carolina, Georgia, and Florida. The business generates around US$12 million, or approximately C$15.9 million, in annual revenues.
Through the acquisition of Grammer Dry Bulk, TFI will gain various transport assets. These include nearly 100 company drivers and owner operators, a fleet of over 90 leased and owned tractors, and over 150 company-owned tank trailers.
Grammer Dry Bulk will become part of TFI’s BTC East operating company, which is in turn part of the company’s Truckload division. TFI International’s Chairman, President, and CEO, Alain Bédard, commented on the company’s most recent acquisition.
“As another step in the expansion of our US specialty truckload operations, we are pleased to bring aboard Grammer’s dry bulk team and their operating assets.
“Their southeast focus and valued customer base is a strong strategic fit with our BTC East operating company, as well as our assets acquired last month from CCC Transportation, and we look forward to supporting the team’s continued growth under the TFI International umbrella,” he said.
TFI International (TFII) is up 1.57 per cent and is trading at $58.20 per share at 10:47am EDT.
