TFI Expands Its Reach with Latest Acquisition of Ex-Yellow Terminal

Key Highlights:

• TFI International has acquired another terminal previously owned by Yellow Corp., this time situated in Fayetteville, North Carolina, as per court filings.
• The facility at 1061 River Road contributes 17 loading doors, over 4,000 square feet of space, and nearly 4 acres to the LTL carrier’s operations.
• The acquisition was finalized with a bid of $700,000 approved by a bankruptcy judge on Febuary 21.

An overview:

This latest purchase may be modest compared to Knight-swift Transportation Holdings’ ambitious plan for a 170-door facility; however, TFI has also secured two former Yellow locations in Kentucky and California for close to $16 million previously.

This expansion enhances TForce’s network even as CEO Alain Bédard described its U.S. LTL segment as “overly bloated” due to declining volumes anticipated in 2024.

Bédard emphasized the need for TForce Freight to adopt a more streamlined approach during remarks made in July.

the LTL division faced challenges in Q4 with operating income plummeting by over one-third despite enhancements in service quality. Analysts were informed last month about issues related to missed pickups and reduced shipment volumes affecting the company’s performance.

Additonally, TFI recently abandoned its initiative to shift its headquarters from Canada to the U.S., responding to shareholder input that highlighted that approximately 70% of its operations are based stateside…