TFI Eyes a ‘Brother’ for TForce Freight; Not a Merger
Bédard Less Sure of Inking Transformative LTL Deal in 2025
“If we have an opportunity to buy an asset-light [LTL] operation, we’ll jump on that front. If that’s not available, because there are only a few of those, then we’ll go down the asset-heavy route,” Bédard said. (TForce Freight)
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The timeline for TFI International expanding its U.S. less-than-truckload operations by buying a rival is becoming hazier, but CEO Alain Bédard is clearer than ever that the Montreal-based carrier will need to make a splash when it does so.
During TFI’s fourth-quarter 2024 earnings call with analysts Feb. 20, the company’s top executive said he did not expect any major acquisitions in 2025, after previously promising substantial truckload and LTL acquisitions in 2025.
However, later in the call, Bédard rowed back that assertion, repeatedly telling analysts TFI had to be bold and deals may go through as the company struggles to turn around TForce Freight, which it bought in 2021 from UPS, and build enough size to spin off its truckload unit.
Part of the uncertainty relates to the ongoing rut the North American freight industry finds itself in, but also the quandary Bédard finds himself in after espousing a “buy when the market is down” strategy in recent years during which TFI has inked more acquisitions than any other major carrier. …
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