VersaCold Logistics Services agreed to acquire Coastal Pacific Xpress, BCโs largest refrigerated carrier specializing in the shipping of perishable and ambient products throughout Canada and the USA.
The acquisition comes just one month after the announcement of VersaColdโs acquisition of Gary Heer Transport and the launch of its newest subsidiary, VersaCold North America Transportation Solutions Limited. The newest addition to VNATS, CPX will continue to operate as its own entity while enhancing VersaColdโs growth in the cross-border transportation market segment, including truckload and less-than-truckload capabilities. The transaction, which is subject to customary closing conditions, including the receipt of applicable regulatory approvals, is anticipated to close in the first half of 2016.
โWe have always held CPX in high regard for its reliable service and deep commitment to its customers,โ said Douglas Harrison, President & CEO of VersaCold. โThrough partnerships with exceptional companies like CPX, we live our vision of being our customerโs most trusted and reliable long-term partner by providing new and innovative solutions and services that provide stability and peace of mind, allowing them to focus on what matters most โ the satisfaction, health and wellness of their valued consumers.โ
โWe are proud and excited to join VersaCold and to be a key part of the companyโs expansion into cross-border transportation services,โ said Scott McIntosh, President of CPX. โVersaCold and CPX service many of Canadaโs leading companies and it was clear to us that, when partnered, we would only be stronger and more empowered to provide solutions and services that enable our exceptional clients to achieve great business results.โ
