Canadian firm VersaCold Logistics Services agreed to buy Coastal Pacific Xpress, a refrigerated carrier, to broaden the buyer’s service offering in the United States and Canada.
VersaCold,, based in Toronto and Canada’s largest provider of temperature-controlled services, didn’t disclose sale price or other details about the deal that is expected to be completed in the first half of the year. Coastal Pacific, based in British Columbia, will operate as a stand-alone business to provide truckload and less-than-truckload services.
VersaCold is No. 39 among the largest warehouse firms listed in the Transport Topics Top 50 list of the largest companies in North America.
"We have always held CPX in high regard for its reliable service and deep commitment to its customers," VersaCold CE) Douglas Harrison said. “This exciting acquisition is a major step.”
Coastal Pacific President Scott McIntosh said, "VersaCold and CPX service many of Canada's leading companies, and it was clear to us that, when partnered, we would only be stronger."