Celadon To Acquire Cetain Assets Of N. Yanke Transfer Ltd

(RTTNews) - Celadon Group Inc. (CGI), a provider of truckload freight service, said Monday it has agreed to acquire selected assets of N. Yanke Transfer Ltd, based in Saskatoon, Saskatchewan. Additional terms and conditions of the transaction were not disclosed.

Yanke operates about 300 tractors and generated about $90 million in revenue in 2012. The company comprises both domestic Canadian shipments and international shipments between Canada and the United States.

With this acquisition, Celadon will continue to grow its international footprint and service offerings in Canada, with an increased presence in the western provinces.

Celadon grew its western Canadian business earlier in the year with its acquisition of Hyndman Transport. Celadon will maintain a number of Yanke's terminal locations throughout Canada.

The acquisition enters Celadon into container rail movements in Canada, which represents about $30 million of Yanke's 2012 revenue. Paired with Celadon's existing intermodal revenue in the U.S., the company now expects to generate about $60 million in annual revenue from rail shipments in North America.

Celadon anticipates having more than 800 drivers in its Canadian operations upon conclusion of this deal.