Celadon Acquires Canadian Carrier Yanke
Celadon Group said it has acquired Canadian carrier N. Yanke Transfer Ltd. Terms were not disclosed.
Yanke is based in Saskatoon, Saskatchewan, and operates about 300 tractors, including more than 100 team expedited trucks. The company generated about $90 million in revenue in 2012, according to Celadon.
The acquisition enters Celadon into the Canadian container rail business, which was close to $30 million of Yanke’s 2012 revenue. Combined with Celadon’s intermodal revenue in the United States, the Indianapolis-based company said it expects to generate about $60 million in annual revenue from rail shipments in North America.
Yanke founder Russel Marcoux said in a letter to drivers, “The time has come for me to move on, and in keeping with the culture and values we created together at Yanke, it is important to me that the torch gets passed on to an organization that shares many of the same values and beliefs we all supported and practiced.”
Celadon said the acquisition will expand its Canadian footprint and that it “recognized a great driver and customer base, offering growth to its Canadian footprint. Celadon Canada is pleased to welcome Yanke’s drivers and customers into the Celadon Canada family”
“We are privileged to have Russel’s best wishes in working with you. We are excited to maintain your employment and continue helping you and other professional transport operators service existing customers across Canada and the United States,” Drew Shepherd, Celadon Canada operations manager, said in a letter to drivers.
Celadon Group is ranked No. 44 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
