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January 6, 2014 10:20 AM, EST
Clarke Closes Sale of Freight Business to TransForce

Clarke Inc. said it has closed the sale of its truckload and less-than-truckload businesses to TransForce Inc. for C$100.5 million.

The holding company expects a gain of C$63 million to C$68 million from the sale, it said in a Jan. 6 statement. The gain will be reflected in its first-quarter earnings report.

TransForce previously said the Clarke units, which have 600 employees, will generate C$190 million of revenue annually.

Clarke retained its home-heating and commercial-tank businesses.

TransForce is ranked No. 8 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers. It announced in December that it would buy Vitran Corp.’s Canadian assets.