TFI International Inc. announced the acquisition of Vedder Transportation Group (“Vedder”) which specializes in the tank truck transport of food grade liquids and dry bulk commodities.
Headquartered in Abbotsford, British Columbia where it began operations in 1956, Vedder was one of the first companies in Western Canada to use tanker trucks to transport liquid food grade products, with operations now spanning British Columbia to Manitoba. With more than 155 tractors and nearly 300 trailing units, a food grade wash rack, railcar transload and warehousing, and maintenance and repair facilities, Vedder generates annual revenues more than C$80m. Run by President Fred Zweep, Vedder will join TFI International’s Specialized Truckload business segment.
“For many years TFI International has been a leading provider of reliable, safe, and cost-effective tank truck services to the liquid and dry bulk food grade market in Eastern Canada. With the acquisition of Vedder, we add the premier provider of such services in Western Canada along with a network of strategically located facilities, making TFI the premier Canadian coast-to-coast provider of food grade tank truck transportation services. We extend a warm welcome to Fred, to Larry Wiebe whose family started the business in 1956 and who remains an advisor, and to their many colleagues throughout the Vedder organization, and we look forward to watching their future success under the TFI International umbrella.” says Alain Bédard, Chairman, President and Chief Executive Officer of TFI International.
This is in line to TFI’s acquisition strategy. Recently, TFI International announced to acquire JHT, an asset light logistics and transportation provider in North America for Class 6-8 truck manufacturers. Founded in 1933, based out of Wisconsin, JHT transports new trucks from manufacturing and final assembly plants to dealers and end customers, utilizing an asset light model that involves driving the customers’ new trucks to their destination.
Source: TFI International