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Less-than-truckload and logistics company Fastfrate Group has acquired cross-border carrier Bestway Cartage Limited and Bestway Global Limited, Fastfrate announced Aug. 10.
Fastfrate, based in Woodbridge, Ontario, is a Canadian-owned and -operated carrier that has been in operation for more than 50 years. It owns facilities adjacent to Canadian Pacific rail yards cities from Vancouver, British Columbia, to Halifax, Nova Scotia.
Bestway has been in operation since 1976 and has operations in Ontario and U.S. markets.
Terms of the sale were not disclosed. The sale became effective Aug. 1.
Fastfrate said negotiations between the companies were ongoing for two years, but intensified last year after Bestway relocated into Fastfrate’s Woodbridge facility in September.
“There couldn’t be a better fit for us right now. As our group continues to grow and build momentum, the next logical step was to increase our foothold in the USA market space,” Fastfrate Group CEO Manny Calandrino said.
“Bestway brings a lot of great experience and relationships to our group, allowing us to better-serve our customers on both sides of the border.”
Fastfrate Group has four divisions, including Fastfrate, CDI, Fastfrate Integrated Logistics and, now, Bestway.
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The group said it is continuing to take an asset-based approach to transportation, while combining the individual strengths of each company to provide end-to-end solutions for its customer base.
“It’s all about providing simple and seamless service. The integration of Bestway into our operation allows us to keep all north- and southbound shipments in our care and control from pickup to delivery,” Calandrino said. “A closed-loop method for cross-border shipments reduces the amount of touch, accelerates transit times and keeps the process very simple for our customers.”
Consolidated Fastfrate ranks No. 88 on the Transport Topics Top 100 list of the largest for-hire carriers in North America.
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