Atlanta-based United Parcel Service Inc. has sold its freight business to Montreal-based TFI International in a deal valued at $800 million. 

UPS Freight posted $3.15 billion in revenues in 2020; it will join TFI under a new umbrella, TForce Freight, which gets 197 facilities in the deal, 50 of which are leased.

TForce will continue to serve UPS’s less-than-truckload needs across North America, the companies announced in January. UPS is said to be exiting the trucking business to focus on its package-delivery network as deliveries soar amid the pandemic. 

The transaction is being conducted on a cash- and debt-free basis. TFI said it plans to spend upward of $50 million to improve efficiencies and boost margin with the newly added fleet. TFI has acquired 90 companies since 2008 and is one of the largest trucking companies in North America. 

As managing editor of Global Atlanta, Trevor has spent 15+ years reporting on Atlanta’s ties with the world. An avid traveler, he has undertaken trips to 30+ countries to uncover stories on the perils...