Vitran Corp. said it will sell its supply chain business to Legacy Supply Chain, Portsmouth, N.H., for $97 million.
Vitran will use a portion of the proceeds to reduce its debt, the Toronto-based company said in a statement.
Vitran, which has less-than-truckload operations in the United States and Canada, sold its truckload unit in late 2010 to Indianapolis-based Online Transport for about $5 million.
“We will continue the recovery and growth of our existing business and believe we have positioned Vitran to be a formidable LTL transportation provider in North America,” CEO Rick Gaetz said in a statement.
Vitran is ranked No. 34 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.