Manitoulin Global Forwarding has acquired Vancouver, British Columbia-based Canfleet Logistics. Terms were not disclosed.
The company, a subsidiary of Manitoulin Group of Companies, said it acquired the logistics firm to strengthen access to “high-growth” Asian markets and advance its global reach.
“In order to continue to meet our customers’ emergent needs, Manitoulin is maintaining a trajectory of steady growth by acquiring businesses that improve our geographic reach or which provide high-quality offerings that complement our own,” Dwayne Hihn, Manitoulin Global Forwarding president, said in a statement.
“Canfleet delivers on both accounts with improved access to Asia and excellent exportation capabilities that mirror Manitoulin’s important strengths. We now have the expertise and volume capabilities to create greater efficiencies for our customers, whether exporting or importing, to Asia or around the world,” he added.
Canfleet was founded in 2005 and provides supply chain management to customers in the lumber, agriculture, scrap metal and automobile export industries. The firm also provides refrigerated transport of perishable goods, according to Manitoulin.
“An ongoing quest for Manitoulin is to extend our customers’ global reach, with an emphasis on Asia because the West-to-Asia and intra-Asia lanes are only going to bet busier,” Gord Smith, CEO of Manitoulin Group of Companies, said in a statement.