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TForce Freight, a subsidiary of TFI International, is an American less than truckload (LTL) freight carrier based in Richmond, Virginia. [1] The company was founded in 1935 as Overnite Transportation, [2] the name it used until 2006 when it was rebranded UPS Freight by new owner UPS.
United Parcel Service, Inc. (UPS) is an American multinational shipping & receiving and supply chain management company founded in 1907. [1] Originally known as the American Messenger Company specializing in telegraphs, UPS has expanded to become a Fortune 500 company [6] and one of the world's largest shipping couriers.
However, for UPS the expected synergies did not materialize to the extent expected and the company decided to sell off its freight business and refocus on small package services. [44] [45] The TFI acquisition of UPS Freight was completed in April 2021 and nearly doubled TFI's size to US$6.5 billion in annual revenue. [46]
United Parcel Service said Sunday it agreed to sell its Coyote Logistics division to RXO for just over $1 billion — less than it paid for the freight-brokerage company in 2015 — to focus more ...
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 paid $1.8 billion to buy Coyote from the private-equity firm Warburg Pincus as it looked to expand in the booming freight-brokerage business. Before that, UPS had used Coyote to provide extra truck space for shipments during the peak holiday season. Coyote had a network of more than 35,000 trucking companies at the time UPS bought it.
The SEC’s order also alleges that in 2020 UPS entered into a non-binding term sheet to sell the freight unit for $800 million with adjustments to be made later that were likely to reduce the ...
UPS Airlines is a major American cargo airline based in Louisville, Kentucky, US. [8] One of the largest cargo airlines worldwide in terms of freight volume flown, UPS Airlines flies to 815 destinations worldwide. [9] It has been a wholly owned subsidiary of United Parcel Service since its launch in 1988.