Vitran to Buy Milan Express’ LTL Operations

Vitran Corp. said it plans to buy the less-than-truckload business of Milan Express, which operates 34 facilities in the central and southeastern United States, for an undisclosed price.

Tennessee-based Milan’s LTL operation generated revenues of about $70 million last year, Vitran said in a statement.

Vitran said that upon the anticipated Feb. 19 closing, it expects the transaction “to be immediately accretive to its earnings.”

The acquisition “is another critical component in Vitran’s strategy of establishing a unique regional LTL network that serves the entire North American market,” Vitran CEO Rick Gaetz said in a statement.

Toronto-based Vitran is publicly traded. Last month it sold a truckload unit for $5 million.

Vitran is ranked No. 35 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.