Heartland Express completed the acquisition of the contract freighters truckload business of TFI International for $525m.

Heartland Express, an irregular route truckload carrier based in North Liberty, Iowa, completed the acquisition of the contract freighters truckload business of TFI International, a Canadian transport and logistics company based in Saint-Laurent, Quebec, for $525m. "We are thrilled to welcome CFI to the Heartland Express family of companies, where it will continue to operate from Joplin under its own brand and current leadership team. CFI has exactly what we look for as we expand – significant scale, a respected and recognizable brand, capable management, safe and experienced drivers, a strong asset base, and a complementary terminal network. CFI’s strengths in the north-south midwestern corridor will add to our driver and customer capability, and their cross-border expertise will help us capitalize on the expected long-term freight volume benefits of nearshoring activity by manufacturers. At the same time, we can offer the CFI people a home that is entirely focused on their core – high-service, irregular route, asset-based truckload freight transportation. Over time, we expect to gain meaningful synergies and operate our consolidated business on a larger scale at our historical margins," Michael Gerdin, Heartland Express Chairman, President and CEO.