OKOTOKS, Alta. — Mullen Group Ltd. says it has signed a letter of intent to buy logistics company ContainerWorld Forwarding Services Inc.

Financial terms of the agreement were not immediately available.

ContainerWorld offers international and domestic wine, beer and spirits producers inventory management, freight forwarding, warehousing and distribution services.

It is based in Richmond, B.C., and has a network of customs and sufferance bonded warehouses.

The company will operate within Mullen Group's logistics and warehousing segment.

The deal is scheduled to close in the second quarter, subject to regulatory approval and closing conditions.

This report by The Canadian Press was first published Jan. 17, 2024.

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