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				TransForce Acquires Texas-based Courier Company
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					Posted: 
					
						Jan 18, 2013 08:18 AM
					
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					Last Updated: Jan 18, 2013 08:18 AM
				
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				<p>MONTREAL &mdash; TransForce has entered into a definitive agreement and plan of merger to acquire all the shares of Texas-based Velocity Express.</p>
<p>TransForce expects to generate annual revenues of $160 million from the acquisition.</p>
<p>Velocity has a network of more than 80 locations across the U.S. and Western Canada and employs 2,600 people, some staff and some contractors. The company provides customized, same-day regional deliveries.</p>
<p>TransForce Chairman, President and CEO Alain B&eacute;dard said that the acquisition increases their presence in the same-day North American package and courier market. The acquisition, he noted, reflects their "disciplined and selective approach in building our network." Velocity has been a trusted provider for nearly 20 years, he said, and is a well-established player in Western Canada.</p>
<p>The transaction is set to close at the end of January.</p>
			
				
				
			
				
				
			
			
			
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