As first reported here Saturday, Celadon Canada has agreed to acquire assets of N. Yanke Transfer in a deal it says will make Celadon one of Canada’s largest carriers.
Celadon confirmed the deal today, and said by its completion, it will have about 800 drivers in Canada. Yanke runs about 300 tractors, including more than 100 team expedited trucks, and generated about $90 million in revenue in 2012.
Yanke offers domestic Canadian shipments and international shipments between the US and Canada.
As stated in this exclusive interview with Trucknews.com last year, Celadon is looking to expand its Canadian footprint. The Yanke acquisition accomplishes that objective. It also gets Celadon into the movement by rail of containers within Canada, which represents about $30 million of Yanke’s revenue. Earlier this year, Celadon announced the acquisition of Hyndman Transport.
“Yanke has been a well-respected Canadian truckload and multi-modal carrier that has provided a high level of dry van freight services for its customers since 1968,” said Paul Will, Celadon president and CEO. “We believe this acquisition offers solid potential to expand our domestic Canada footprint, both over the road and utilizing the rail, to advance our overall service offering growth plans. We’re excited to work with Yanke management and look forward to continuing to provide the quality service that the Yanke core account base has come to expect. Based on previous acquisitions, we believe Celadon can enhance that service through upgraded equipment, advanced technology, additional assets, and an industry leading safety record.”
Russel Marcoux, CEO and president of Yanke, added: “The time has come for me to retire. I am happy to pass the Yanke torch to a company like Celadon that shares our same beliefs, values our work, and is committed to growing the company within the Canadian and US markets.”