No, UPS Freight is not out of business; it was acquired by TFI International and rebranded as TForce Freight.
The Evolution of UPS Freight
While the name "UPS Freight" is no longer in use, the less-than-truckload (LTL) shipping operations formerly under that banner continue to operate. In a significant strategic move, UPS sold its entire LTL freight business to TFI International Inc., a North American leader in the transportation and logistics industry. This substantial transaction, valued at $800 million, was announced in January 2021 and officially closed in April 2021.
This acquisition allowed UPS to streamline its focus on its core small package business, while TFI International expanded its already robust presence in the LTL sector.
Key Details of the Acquisition
The transition from UPS Freight to TForce Freight marked a significant shift in the LTL shipping landscape. Here are the pivotal details of the deal:
- Acquirer: TFI International Inc.
- Previous Owner: United Parcel Service (UPS)
- Acquired Entity: UPS Freight (LTL business)
- Sale Price: $800 million
- Announcement Date: January 2021
- Closing Date: April 2021
- New Name: TForce Freight
For a clearer overview, consider the transformation:
| Aspect | Before Acquisition | After Acquisition |
|---|---|---|
| Operating Name | UPS Freight | TForce Freight |
| Parent Company | UPS (United Parcel Service) | TFI International Inc. |
| Primary Service | Less-than-truckload (LTL) | Less-than-truckload (LTL) |
| Status | Division of UPS | Standalone subsidiary of TFI International |
What TForce Freight Does
TForce Freight continues to provide comprehensive LTL shipping services across North America, including:
- Standard LTL: Shipments that are too large for parcel services but don't require an entire truck.
- Expedited Services: Faster delivery options for time-sensitive freight.
- Specialized Services: Solutions for unique freight needs, such as hazardous materials or temperature-controlled goods.
- Cross-border Shipping: Facilitating trade between the U.S., Canada, and Mexico.
This continuity ensures that businesses and individuals who previously relied on UPS Freight for their LTL needs can still access similar services under the new TForce Freight identity. The operational network, equipment, and personnel largely transitioned with the sale, maintaining a strong presence in the freight industry.
For more information on the acquisition, you can refer to reports from financial news outlets, such as Yahoo Finance's coverage.
