Con-Way Inc. has reached an agreement to acquire Contract Freighters Inc.
According to a news release from Con-Way, the $750 million agreement will be structured as a merger.
Con-Way’s existing truckload operations will be integrated into CFI’s headquarters in Joplin, MO. Con-Way will still keep its headquarters in San Mateo, CA.
The move will also serve to increase Con-Way’s presence in Mexico. CFI has had operations south of the border for more than 20 years, and Con-Way says it plans to merge its existing Mexico network with that of CFI.
The transaction is expected to be complete by the end of the year.