Mullen Group to Acquire Cole Group's Logistics Solutions

Deal News | Apr 14, 2025 | Globenewswire

Mullen Group Ltd., based in Alberta and listed on the TSX, has announced its definitive agreement to acquire Cole Group Inc. and its related entities. This acquisition is expected to complete in the second quarter, subject to regulatory approval, and will be financed through Mullen Group's existing cash and credit facilities. The Cole Group, a leading logistics services provider in North America, brings expertise in customs brokerage, freight forwarding, and trade consulting, operating across 43 locations in Canada and the U.S. Mullen Group sees strong alignment between its existing operations and the Cole Group's service offerings. Mr. Murray K. Mullen, Chair and Senior Executive Officer, emphasized the shared values and strategic fit of the acquisition, highlighting that the current management team at Cole will continue to lead the business. This move fits into Mullen Group's strategy of expanding its logistics portfolio, adding a significant presence in customs brokerage.

Sectors

Logistics and Transportation
Corporate Finance

Geography

Canada – Mullen Group is headquartered in Alberta, Canada, and the acquisition involves operations in Canada.
United States – The Cole Group operates extensively in the U.S., indicating significant geographical presence discussed in the article.

Industry

Logistics and Transportation – The article focuses on logistics services, customs brokerage, and freight forwarding, industries in which both Mullen Group and Cole Group operate.
Corporate Finance – Discusses acquisition financing through cash and credit facilities, a key aspect of corporate finance activities.

Financials

Existing cash and credit facilities – The method by which Mullen Group intends to fund the acquisition of Cole Group.

Participants

Name	Role	Type	Description
Mullen Group Ltd.	Bidding Company/Buyer	Company	A public company listed on the TSX, acquiring Cole Group to expand its logistics portfolio.
Cole Group Inc.	Target Company	Company	A leading logistics services provider, specializing in customs brokerage and trade consulting.
Don Lucky	Owner of Cole Group	Person	Instilled values of integrity and customer service in Cole Group, influencing its culture and operational philosophy.
Murray K. Mullen	Chair and Senior Executive Officer, Mullen Group	Person	Overseeing the acquisition process and emphasizing the strategic fit of Cole Group.