UPS selling off trucking business to TFI International
UPS is selling its LTL and truckload business, UPS Freight, to TFI International for $800 million, the companies announced Monday morning. The completion of the deal is expected in the second quarter of 2021 and is subject to working capital and other adjustments.
The decision to sell UPS Freight was reached following an evaluation of the UPS portfolio and aligns with the company’s “better not bigger” strategic positioning, UPS said in a press release. The company will still operate more than 27,000 tractor-trailers as part of its parcel delivery service, which it still retains, along with its freight brokerage (Coyote Logistics), its cargo airline and more.
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UPS is selling its LTL and dedicated truckload business, UPS Freight, to TFI International for $800 million.UPS (
CCJ Top 250, No. 1) is selling its LTL and truckload business, UPS Freight, to TFI International (No. 8) for $800 million, the companies announced Monday morning. The completion of the deal is expected in the second quarter of 2021 and is subject to working capital and other adjustments.
The decision to sell UPS Freight was reached following an evaluation of the UPS portfolio and aligns with the company’s “better not bigger” strategic positioning, UPS said in a press release. The company will still operate more than 27,000 tractor-trailers as part of its parcel delivery service, which it still retains, along with its freight brokerage (Coyote Logistics), its cargo airline and more.