Denmark-headquartered freight forwarder Scan Global Logistics is expanding its footprint in Canada with the acquisition of ITN Logistics Group.
Scan Global said the acquisition of the privately-owned forwarder will strengthen its Canadian operations by “bringing additional scale, locations and increased market share”.
Allan Melgaard, global chief executive of SGL, said: “Acquiring ITN is a strategic move that enhances our presence in Canada and North America. We have worked with ITN for many years, and the ITN organisation’s focus on the customer, as well as their entrepreneurial spirit, aligns very well with ours. It will be a delight to welcome all the skilled talent with deep industry expertise to our organisation.’
ITN is headquartered in the Toronto area, with four locations in Canada, and employs more than 250 employees. Last year, the company generated an annual revenue in excess of CAD$170m. Services include import and export within air and ocean freight, Customs brokerage, inland transportation, transborder trucking and consolidation services, warehousing, project forwarding and distribution offerings.
Monica Kennedy, major shareholder and president of ITN, said: “Our customers and employees have always been the foundation of our success. It was essential to find a partner that shares our values and vision – SGL is a perfect cultural and strategic fit, ensuring continued growth and care for our team and customers.’
The Canadian freight forwarding market, estimated at $20,9bn in 2023, is fragmented and dominated by large global players. Road freight accounts for the largest portion, the US being Canada’s number one trading partner.
A strong presence in both Canada and the US is instrumental in offering global freight solutions to our customers, both local and international.
‘By expanding our footprint in the North American region, we set the foundation for accelerating our growth in the region and we look forward to offering our customers ITN’s portfolio of services,” said Steen Christensen, regional chief executive for North America at SGL.
The transaction is subject to anti-trust approval from the Canadian authorities and is expected to be completed during the first quarter of 2025.
Earlier this year, the company expanded into Italy by acquiring Foppiani Shipping & Logistics.
And it also recently announced a deal to acquire Bazil-based BLU Logistics.
