Mega-carrier XPO sells truckload biz to Transforce in $600M deal

Updated Oct 30, 2016
Just a year after acquiring all of Con-way’s operations, XPO is selling off its truckload segment — nearly all of which it acquired from Con-way in October 2015.Just a year after acquiring all of Con-way’s operations, XPO is selling off its truckload segment — nearly all of which it acquired from Con-way in October 2015.

XPO Logistics (No. 3 in the CCJ Top 250) announced it has sold its truckload business –the bulk of which came via a October 2015 acquisition of Con-way — to TransForce Inc. (No. 7 in the CCJ Top 250) for approximately $558 million in cash. XPO will use the proceeds from the transaction to pay down debt, the company says.

The acquisition by the Montreal, Canada-based TransForce could make it the largest truckload carrier in North America.

XPO acquired all of Con-way’s operations last year in a $3 billion deal.

The truckload operation sold to TransForce encompasses approximately 3,000 tractors, 7,500 trailers and 29 locations that were part of the October 2015 acquisition of Con-way Inc.

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