Photo courtesy UPS
Atlanta-based United Parcel Service Inc. will sell its Richmond-based UPS Freight unit to Canadian logistics company TFI International Inc. for $800 million, the package delivery company announced Monday.
UPS Freight provides less-than-truckload (LTL) shipments (used for small freight transportation) across all 50 states, Mexico, Puerto Rico, the U.S. Virgin Islands and Guam. The UPS business unit includes 197 North American facilities, more than 23,000 trailers and more than 6,300 tractors.
UPS Freight is one of the largest LTL carriers in the U.S, reporting approximately $3.14 billion in revenue in 2020. It was formed in 2005 after UPS acquired Richmond-based trucking company Overnite Corp. for $1.25 billion to expand its freight delivery business.
