05:09 PM EDT, 03/11/2024 (MT Newswires) -- TFI International ( TFII ) on Monday said it agreed to acquire Hercules Forwarding for an undisclosed amount to bolster its less than truckload (LTL) business.

The trucking and logistics company said Hercules has annual revenue of more than US$100 million and brings 210 trucks, nearly 600 trailers and 75 containers. The company operates in the United States and Canada.

"This bolt-on acquisition fortifies our US LTL portfolio while adding cross-border LTL into Canada, creating a partner for our Canada-to-US shipments while offering synergy opportunities on both sides of the border," chief executive Alain Bedard said in a release.

TFI shares closed down C$0.56 to C$200.07 on the Toronto Stock Exchange.