Mullen Group announced on Wednesday that it has signed a letter of intent to acquire ContainerWorld Forwarding Services, a company based in British Columbia, and its subsidiaries. The exact amount of the acquisition is not disclosed.
ContainerWorld is a well-known logistics provider that specializes in serving international and domestic wine, beer, and spirits producers. They are known for providing a secure and dependable customs bonded service in Canada.
As part of the agreement, ContainerWorld will become a part of Mullen Group’s Logistics & Warehousing segment, contributing an estimated annual revenue of around $150.0 million. The funding for this acquisition will come from Mullen Group’s existing credit lines.
During the transition from being a private company to becoming part of a prominent public corporation, Dennis Chrismas will continue to lead ContainerWorld in his current role overseeing its operations.
Dennis Chrismas, the President of ContainerWorld, leads the company in its mission to offer ‘door-to-door’ logistics services to the import and export industry, with a specific focus on beverage alcohol Importers and Domestic Suppliers in Western Canada. ContainerWorld, under his guidance, operates as a comprehensive service provider, prioritizing exceptional customer service, cutting-edge technology, and fair pricing as the pillars of its success.
The expected completion date for the deal is the second quarter of 2024.
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