CP Ships closes on acquisition of ROE Logistics

CP Ships closes on acquisition of ROE Logistics    London-based CP Ships Ltd. has closed on its acquisition of Montreal-based ROE Logistics, first announced March 23.
   The acquisition is part of CP Ships’ plan to selectively develop logistics services as a way of “leveraging strong regional positions and adding value to core container services”, the carrier said.
   CP Ships said ROE, a family-owned business, was founded in 1979 and has offices in Montreal, Toronto, Calgary and Vancouver with gross revenues (excluding customs duty and tax) of $27 million. It specializes in providing a range of freight forwarding, customs brokerage, logistics, warehousing and distribution services.
   Robert Elvidge, founder and current owner, will remain as chief executive officer, said CP Ships.