TransForce agrees to buy Canpar

MONTREAL, Que. (May 31, 2002) — TransForce, one of Canada’s largest for-hire carriers, has agreed to purchase Canpar Transport, a non-expedited parcel-delivery company based in Mississauga, Ont. Financial terms of the deal, which is still subject to regulatory approval, were not disclosed.

In a press release, Canpar stated that the transaction will not affect any of their operations, and the company does not anticipate any impact on their employees or their jobs, as the company will continue to be run independently as a wholly-owned subsidiary.

“We are proud of the fact we continue to be Canadian owned and operated and know that as a result of being purchased by TransForce, we will be better able to compete with the global companies operating in our marketplace,” Canpar president and CEO John Cyopeck said in the release. Cyopeck will also remain in his current position.

Canpar, first established in 1976 as a separate division of Canadian Pacific Trucks, had revenues of approximately $140 million in 2001. The company, which maintains 53 terminals across Canada, operates more than 1,000 vehicles. It also provides transborder services through interline agreements with third party regional and national carriers.

This marks the third acquisition by TransForce this year. In March the company bought Japiro Transport, a small less-than-truckload and truckload carrier operating in Quebec. Just a month prior, TransForce acquired the logistics and freight brokerage business of Tri-Line Expressways, which went into receivership early this year along with its corporate parent TCT Logistics.