Vitran CEO Predicts Mergers to Accelerate
MELIA ISLAND, Fla. — The rapid pace of consolidations, mergers and acquisitions in trucking will accelerate in coming years, a top less-than-truckload executive predicted last week.
“There are more deals coming, big and small,” said Rick Gaetz, chief executive officer of Vitran Corp. of Toronto. “The next three or four years, there will be more of the same. There’s going to be a lot of disruptions in the next few years.”
Gaetz spoke at the annual meeting of the North American Transportation Employee Relations Association here, advising trucking executives to move slowly with mergers and pay particular attention to how they affect employees.