Eurotunnel has bought Great Britain Rail Freight (GBRf) from FirstGroup.
According to Eurotunnel, the acquisition is in line with its current growth and development strategy and was completed without any increase in debt.
Eurotunnel chairman and CEO Jacques Gounon said the purchase was an expression of the company's commitment to the UK and the belief it has in its potential growth.
The company hopes that in collaboration with its French freight subsidiary, Europorte France, GBRf will offer customers a competitive, high-performance service, especially across the channel.
GBRf generated revenues of £56m ($82.2m) in 2009 and has a customer list including Bombardier, EDF Energy and DRAX.