Scan Global Logistics (SGL) continues its growth journey by strengthening its Canadian operations through the acquisition of ITN Logistics Group. This addition will significantly expand SGL’s service capabilities and footprint in Canada.
ITN Logistics Group, a privately owned Canadian freight forwarder, offers a comprehensive range of global logistics solutions across multiple transport modes. The acquisition will bolster SGL’s presence in Canada, adding scale, new locations, and increased market share.
Allan Melgaard, CEO of SGL, stated: “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.”
Headquartered in the Toronto area, ITN operates from four locations across Canada, employing over 250 professionals.
In 2022, ITN achieved annual revenue exceeding US$117 million. Its service portfolio includes air and ocean freight import/export, customs brokerage, inland transportation, transborder trucking and consolidation, warehousing, project forwarding, and distribution.
The Canadian freight forwarding market, valued at approximately US$21 billion in 2023, is fragmented and largely dominated by major global players, with road freight representing the largest segment.
“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,” pointed out Steen Christensen, Regional CEO for North America at SGL.
According to the statement, given the substantial trade relationship between Canada and the United States—totalling around US$800 billion in 2022—having a strong presence in both countries is essential for providing comprehensive global freight solutions to customers worldwide.
The transaction is pending anti-trust approval from Canadian authorities, with closing anticipated in the first quarter of 2025.
The post Scan Global Logistics to acquire Canada’s ITN Logistics Group appeared first on Container News.
Scan Global Logistics to acquire Canada’s ITN Logistics Group
