NFI Buys Ontario Logistics Firm

Trucking and supply chain firm NFI Industries said Tuesday it has acquired IPD, a global transportation and logistics company based in Mississauga, Ontario, Canada.

Terms were not disclosed. IPD, which specializes in perishable-based air and ocean transport, intermodal and truck brokerage services, had revenue last year of about $50 million, the two said in a statement.

“Through this acquisition and other growth, such as that generated by the expansion of our transborder services with truck and rail, we expect that NFI’s annual revenue for 2010 will reach $900 million,” said Sid Brown, NFI’s chief executive officer.

NFI Industries, Vineland, N.J., is ranked No. 35 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers and No. 16 on the Transport Topics Logistics 50 listing of U.S. and Canadian logistics firms.