Denmark-based freight forwarder Scan Global Logistics (SGL) is expanding its presence in Canada with the acquisition of ITN Logistics Group, a move that is set to bolster its operations in the region. The acquisition is expected to enhance SGL’s Canadian footprint by adding scale, new locations, and an increased market share.
Allan Melgaard, Global CEO of SGL, described the deal as a strategic step to strengthen the company’s position in Canada and North America. “We have worked with ITN for many years, and their customer-centric approach, along with their entrepreneurial spirit, aligns well with our own. We’re excited to welcome ITN’s skilled team, who bring extensive industry expertise to our organization,” he said.
Headquartered in the Toronto area, ITN Logistics operates across four locations in Canada and employs over 250 people. The company generated more than C$170 million in revenue last year and offers a wide range of services, including air and ocean freight, customs brokerage, inland transportation, transborder trucking, consolidation, warehousing, project forwarding, and distribution.
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Monica Kennedy, President and major shareholder of ITN, emphasized the importance of finding a partner that aligns with the company’s values and vision. “SGL is the perfect cultural and strategic fit, ensuring continued growth and the best possible care for our customers and employees,” she said.
The Canadian freight forwarding market, valued at C$20.9 billion in 2023, is competitive and dominated by large global players. Road freight represents the largest segment, with the U.S. being Canada’s top trading partner. A strong presence in both Canada and the U.S. is essential for providing global freight solutions to customers both local and international.
Steen Christensen, Regional CEO for North America at SGL, commented: “By expanding our footprint in North America, we’re laying the groundwork for accelerated growth in the region, and we’re excited to offer customers ITN’s comprehensive service portfolio.”
The acquisition is subject to antitrust approval from Canadian authorities and is expected to close in the first quarter of 2025.
This move follows SGL’s recent expansions, including the acquisition of Italy-based Foppiani Shipping & Logistics earlier this year, as well as a deal to acquire Brazil’s BLU Logistics.
