France’s Clasquin (EPA:ALCLA) is in talks to buy an unnamed firm in Canada to expand its freight-forwarding operations in the country.
Clasquin, a global freight-forwarding and logistics company based in Lyon, disclosed the pending acquisition on July 12.
Clasquin is holding exclusive negotiations to buy an 80 percent equity stake in the firm. The Canadian company has annual revenue of C$48 million and gross margin of C$8 million, Clasquin said. (The Canadian dollar equals US$0.77).
Existing shareholders would retain a 20 percent stake. The existing director would continue managing the company, which has more than 90 employees, Clasquin said.
Clasquin expects to close the deal before the end of 2019.
Clasquin has an existing Canadian operation next to Montreal Trudeau International Airport in Dorval, Quebec.
“This transaction would allow the Clasquin Group to significantly expand its operations in Canada and provide new opportunities for further growth in North America,” the company said in a statement.
Clasquin Canada had €3.8 million (a euro equals US$1.12) in sales and a gross profit of €551,000, according to the company’s 2018 full-year financial results.
It represented a small portion of the company’s global operations, which generated €147.7 million in revenue and €29.5 million gross profits in 2018.