CPX will continue to operate as its own entity while enhancing VersaCold’s growth in the cross-border transportation market.
Canada-based VersaCold Logistics Services entered into an agreement to acquire Coastal Pacific Xpress (CPX), a Canada-based refrigerated carrier specializing in the shipping of perishable and ambient products throughout Canada and the United States.
This acquisition comes just one month after VersaCold’s acquisition of Gary Heer Transport and the launch of its newest subsidiary, VersaCold North America Transportation Solutions Limited (VNATS). CPX will continue to operate as its own entity while enhancing VersaCold’s growth in the cross-border transportation market, including truckload and less-than-truckload capabilities. The transaction, which is subject to customary closing conditions, is anticipated to close in the first half of 2016.