Canadian National (CN) has reached an agreement to acquire the TransX Group of Companies, one of Canada’s largest and oldest transportation companies.
TransX is based in Winnipeg, Manitoba, CA. JJ Ruest, president and CEO of CN, said the acquisition will allow CN to focus more strongly on its supply chain and strengthen its franchise.
“TransX has a 55-year history of providing innovative customer solutions in an industry that continues to evolve,” Ruest said. “This alignment creates a solid framework to serve a growing consumer economy with transportation options that bring more supply chain flexibility to our customers.”
Mike Jones, chief operating officer of the TransX Group of Companies, added, “CN’s acquisition solidifies our future as an industry-leading intermodal services provider in North America. We look forward to working with the CN team, which will allow us to continue building long-term customer confidence.”
Officials said TransX will remain based in Winnipeg and continue to operate independently.
“We thank Louie Tolaini, president and founder of The TransX Group of Companies, and his family for entrusting us with the reputation they built over the last six decades,” said Keith Reardon, CN’s senior vice-president of consumer products and supply chain growth. “CN has worked alongside TransX for many years as a supply chain partner and we know the emphasis they place on the customer’s experience and on their commitment to safety. Understanding each other’s culture makes the opportunities of this acquisition exciting, and wide-ranging.”
The terms of the deal were not disclosed at the time of publishing. The acquisition is subject to regulatory review by Competition Bureau Canada and Canada’s Ministry of Transportation.