DHL to acquire Mayne Logistics Loomis
BRUSSELS (Nov. 1, 2002) — DHL Worldwide Express said it has agreed to acquired Mayne Group Canada, more commonly known as Mayne Logistics Loomis. Financial terms were not disclosed.
The deal will make DHL’s Canadian subsidiary, DHL Canada, the third-largest express delivery provider in Canada. DHL said the acquisition will increase its Canadian domestic market share to nearly 10 per cent and improve cross-border service performance with the United States.
“We are looking forward to joining the DHL network and combining our domestic and international strengths and expertise to offer our customers a full suite of services and logistics options,” said Brian Fulwiler, chief executive officer of Mayne Logistics Loomis. “Mayne Logistics Loomis has previously partnered with DHL for its international shipping needs and this acquisition builds upon that existing relationship.”
Mayne Logistics Loomis and DHL Canada are both headquartered in Mississauga, Ont. DHL Worldwide Express is majority owned by Deutsche Post World Net.
The purchase is scheduled to be complete by Jan. 31, 2003, pending regulatory approvals.
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