Canada won't let the sun go down
Canadian logistics company Mid-Nite Sun Transportation, which operates under the Rosenau Transport brand, is being taken over by nternational CEP company GLS.
Founded in 1957, Rosenau Transport has 24 owned hubs and depots in four provinces in Western Canada, and an annual revenue of CAD 175 million (EUR 121 million). GLS’s existing Canadian business sees synergies and joint growth opportunities not only in the Canadian and American markets.
The total value of the transaction is CAD 360 million (EUR 245 million), on a debt- and cash-free basis. The acquisition is subject to the customary closing conditions and regulatory approvals.
GLS entered the Canadian market in 2018 through the acquisition of Dicom and operates a network of about 30 hubs and depots, with 1,400 employees. (sh)