Canadian trucking and logistics firm Mullen Group (TSX:MTL) has added another acquisition to its belt, buying Manitoba carrier and brokerage R.S. Harris Transport, an open-deck transport specialist.
Mullen announced the deal on Friday. Winnipeg-based Harris Transport adds 50 trucks and annual revenue of about CA$25 million ($20 million) to one of Mullen’s best-performing units, Gardewine Group.
“This strategic acquisition allows the Gardewine Group to complement multiple offerings within our group, including multimodal transload,” Darin Downey, Gardewine president and chief operating officer, said in a statement.
Harris marks the latest in a string of acquisitions for Mullen Group, the second largest of Canada’s three publicly traded trucking companies after TFI International. Just Wednesday, Mullen announced the purchase of Chicago-area 3PL QuadExpress, its first U.S. operation.
Mullen also recently closed two other acquisitions: LTL carrier APPS Transport and container trucking company Tri Point, both based in the Toronto area.
The string of deals marks a reversal of course for the company. Since the start of the pandemic in 2020, Mullen had avoided making any significant acquisitions.
- Canadian freight market poised for US-style recovery pop: Mullen Group CEO
- Canada’s Mullen Group dips toe into truck sales with Bandstra acquisition
- Mullen Group plans to acquire APPS Transport Group