Scan Global Logistics (SGL) has announced the acquisition of ITN Logistics Group, a privately owned Canadian freight forwarder that offers a comprehensive range of global logistics solutions across various transport modes.
The acquisition is set to bolster SGL’s operations in Canada, increasing its scale, expanding its geographical footprint, and enhancing its market share in the region.
“Acquiring ITN is a key strategic move that strengthens our position in Canada and North America,” said Allan Melgaard, Global CEO of SGL. “We’ve had a longstanding partnership with ITN, and their customer-centric approach and entrepreneurial spirit align perfectly with our own. We are excited to welcome the talented professionals at ITN to our team.”
Headquartered in the Toronto area, ITN operates from four locations across Canada and employs over 250 staff members. In the previous year, ITN recorded annual revenues exceeding $170 million. The company provides a wide range of services, including air and ocean freight import/export, customs brokerage, inland transportation, transborder trucking, consolidation services, warehousing, project forwarding, and distribution solutions.
“Ensuring the ongoing success of our customers and employees has always been at the core of our business,” said Monica Kennedy, major shareholder and president of ITN. “It was essential to partner with an organization that shares our values and vision. SGL is an ideal cultural and strategic fit, allowing for continued growth while maintaining the level of service our customers expect.”
Steen Christensen, Regional CEO for North America at SGL, added, “This acquisition positions us to accelerate our growth across the North American region, and we look forward to integrating ITN’s services into our broader portfolio for the benefit of our customers.”
The transaction is pending anti-trust approval from Canadian authorities, with completion expected in the first quarter of 2025.
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