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Nippon Express to Buy Metro Supply in $1.6 Billion Deal
Move Will Strengthen Nippon's Logistics Presence in North America
Key Takeaways:
- Nippon Express Holdings agreed April 17 to acquire Canada-based Metro Supply Chain Group for up to C$2.2 billion to expand North America logistics.
- The deal values Metro at C$1.8 billion plus up to C$400 million earnout and combines two Top 100 North America logistics firms.
- Closing is expected July to December with price adjusted for net debt and working capital; Nippon Express is assessing fiscal 2026 forecast impact.
Nippon Express Holdings Inc. will acquire Canada-based Metro Supply Chain Group for as much as C$2.2 billion ($1.6 billion) to strengthen its logistics presence in North America.
The agreement includes the purchase of the company at an enterprise value of C$1.8 billion, plus a payment of as much as C$400 million in cash, conditional on Metro Supply Chain achieving certain financial indicators, Nippon Express said in a statement on April 17.
The Japanese company said the actual purchase price will be determined after adjustments based on Metro Supply Chain’s net debt and net working capital.
The transaction is expected to close between July and December this year.
Nippon Express is currently assessing the impact of the acquisition on its fiscal 2026 business forecast.
Nippon Express shares were little changed to close at 3,847 yen on April 17, before the announcement. The stock has gained 15% this year.Ìý
Nippon Express (North America) ranks No. 58 on the Transport Topics Top 100 list of the largest logistics companies in North America. Metro Supply Chain ranks No. 53.Ìý
