Mullen Group Closes ContainerWorld Acquisition
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Mullen Group closed its previously announced acquisition of fellow Canadian business ContainerWorld Forwarding Services, the company revealed May 3.
The Okotoks, Alberta-based company said in the announcement that the deal was closed effective May 1. ContainerWorld is a logistics provider that specializes in integrated supply chain solutions for the alcoholic beverage and hospitality industries. It will now operate as an independent but wholly owned subsidiary. The deal was first announced Jan. 17.
“The addition of ContainerWorld demonstrates our continued strategic focus of diversifying service offerings into verticals and markets that we consider as great long-term opportunities,” Murray Mullen, chairman and senior executive officer at Mullen Group, said when the deal was first announced. “Globally, alcoholic beverages is a trillion-dollar industry and here in Canada, it is a multibillion-dollar industry that is expected to grow as the Canadian population grows.”
Mullen added the acquisition adds over 1 million square feet of warehousing space and further expands operations in the provinces of British Columbia and Ontario. ContainerWorld will operate within the logistics and warehousing segment, and it is expected to generate annualized revenue of about $150 million.
“We are delighted to have ContainerWorld join our expanding logistics network,” Mullen said. “It is an excellent company with a long history, traits we consider important to our investment strategy. Founded by Dennis Chrismas, ContainerWorld has grown to be one of the largest alcoholic beverage logistics companies in Canada.”
Mullen Group ranks No. 37 on the Transport Topics Top 100 list of the largest for-hire carriers in North America.
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