Truckload carrier and logistics firm CFI announced plans to acquire Chicago-based Optimal Freight. CFI is a Joplin MO-based subsidiary of Montreal-based TFI International Inc.
Financial terms of the deal were not disclosed.
Optimal provides transport of truckload and less-than-truckload shipments throughout the United States, Canada and Mexico. Its services include temperature-controlled, intermodal, dry van, expedited and overdimensional, according to CFI.
The company was founded in 2011 by Noam Frankel, according to the company’s website. Frankel co-founded American Backhaulers in 1982, managing the freight brokerage firm before it was acquired by C H Robinson. Frankel then built the truckload capabilities of Echo Global Logistics before starting Optimal.
“We are thrilled at the prospect of learning from the talented individuals at Optimal Freight while better supporting this group under the CFI Logistics umbrella,” said Greg Orr, CFI president. “The timing for this transition is ideal as CFI expands its logistics division and customer service offerings in 2019.”
CFI, formerly the Con-way Freight company, has US offices in Joplin, Dallas and now Chicago. CFI was purchased from XPO Logistics in autumn 2017. Established in 1951, the company’s truckload segment delivers 53-foot dry-van truckload transportation services.
In the United States, CFI owns and manages 15 terminals and drop lots. Through sister company CFI Logistica, CFI’s Mexico operations include an LTL network and has aligned carriers that travel into South America.
Business continuity will remain intact as Optimal Freight rebrands and operates as part of the CFI Logistics organization, CFI officials said.
See https://cfidrive.com/ or www.optimalfreight.com for complete details.
