Metro Supply Chain Sells to Japan's NX Group in C$2.2B Deal, Charting Global Course

MONTRÉAL, QC – April 17, 2026 – In a landmark transaction for the Canadian logistics sector, Montréal-based Metro Supply Chain Inc. has been acquired by Japanese global logistics powerhouse Nippon Express Holdings Inc. (NX Group) for a total potential value of C$2.2 billion. The deal marks a pivotal moment for the Canadian firm, providing it access to a vast global network while including firm commitments to preserve its headquarters, management, and workforce in Québec.

The agreement, announced today, will see Metro Supply Chain's majority shareholder, LDC Metro Holdings Inc., and its key financial partner, La Caisse de dépôt et placement du Québec (CDPQ), sell the company to NX Group. This move is positioned as the next logical step in Metro Supply Chain's five-decade evolution from a single Montréal warehouse into a North American and UK logistics leader.

A Strategic Play in Global Logistics Consolidation

The acquisition arrives amidst a period of intense consolidation within the global logistics industry, where scale, technological prowess, and geographic reach are paramount. Strategic buyers are aggressively pursuing acquisitions to build more resilient supply chains, expand service offerings, and gain footholds in critical markets. NX Group's purchase of Metro Supply Chain is a clear embodiment of this trend.

This move is a cornerstone of NX Group's ambitious "Dynamic Growth 2.0" business plan, which aims to establish the company as one of the top five global freight providers. The acquisition of Metro Supply Chain directly addresses a key objective: significantly strengthening its presence in the robust North American market. It follows a pattern of strategic international expansion, including the 2024 acquisition of European airfreight specialist cargo-partner and the 2025 purchase of German healthcare logistics provider Simon Hegele Group.

Metro Supply Chain, which ranks No. 53 on the Transport Topics Top 100 list of largest logistics companies in North America, provides NX Group with an immediate and substantial enhancement to its regional footprint. "Metro Supply Chain represents a strong strategic fit for our group," said Satoshi Otsuji, Senior Managing Executive Officer of Nippon Express Holdings. "Its capabilities, customer relationships, and market position in North America complement our global network and long-term growth strategy. We look forward to supporting Metro Supply Chain's continued development while respecting its local leadership and strengths."

The C$2.2 Billion Price Tag and What It Buys

The financial structure of the all-cash deal reflects Metro Supply Chain's strong performance and future potential. The transaction includes a base enterprise value of C$1.8 billion, with an additional C$400 million contingent upon the company achieving specific financial targets. This earn-out structure is common in large-scale M&A, aligning the interests of both buyer and seller on future success.

The valuation is supported by Metro Supply Chain's impressive growth trajectory, with revenues climbing from C$873.3 million in fiscal 2023 to C$1.38 billion in 2025. This performance has made it an attractive asset, operating approximately 190 sites and 22.5 million square feet of space with 9,000 team members across Canada, the US, and the UK.

For NX Group, the investment secures a mature, high-performing logistics platform with deep expertise in diverse sectors, including retail, automotive, and healthcare. The acquisition provides a turnkey solution for expanding its contract logistics operations in English-speaking markets, a stated strategic priority.

Securing a Canadian Legacy in Montréal

A central theme of the acquisition is the careful preservation of Metro Supply Chain's Canadian identity and operational core. Recognizing the importance of local leadership and expertise, NX Group has made binding commitments to maintain the company's headquarters and management team in Montréal. Furthermore, the agreement explicitly states there will be no material downsizing of the Québec-based head office or relocation of its management workforce.

This commitment was a decisive factor for La Caisse de dépôt et placement du Québec (CDPQ), which first invested in Metro Supply Chain in 2018 and has been a key partner in its growth. "The commitment to maintain the head office of this Canadian logistics leader in Québec, along with its management team and local workforce, was a key factor for us," stated Kim Thomassin, Executive Vice–President and Head of Québec at La Caisse. "This new partnership will enable Metro Supply Chain to build on its success and enter the next phase of its growth."

Underscoring the focus on continuity, Metro Supply Chain Founder and Group Chairman Chiko Nanji will remain on the Board. "This transaction recognizes the strength of what has been built and positions the company for its next phase of growth with a global partner that shares our values," Nanji said. "With greater resources, and a global network, Metro is well positioned to deepen its presence in Canada, the U.S. and the U.K. and expand into new markets."

Continuity and Future Growth for Customers

For customers and employees, the message from leadership is one of stability and enhanced opportunity. The transaction, which is subject to customary regulatory approvals and expected to close in the coming months, is designed to be seamless. Day-to-day operations will continue without interruption.

"This transaction gives Metro Supply Chain access to additional scale and investment, while allowing us to continue operating the business as we do today," assured Chris Fenton, Group President and CEO of Metro Supply Chain. "Our leadership remains in place, and our focus continues to be on delivering for our customers. For our customers, this means continuity, with the same teams, no changes to service or existing agreements, and over time, the benefit of increased scale and investment."

NX Group's holding company structure, which champions local autonomy, aligns well with this promise. This model allows acquired companies like Metro Supply Chain to retain control over daily operations while benefiting from the parent company's strategic guidance, financial backing, and global resources. By joining forces with one of the world's largest logistics providers, Metro Supply Chain is now equipped to not only defend its market position but also to aggressively pursue new avenues for growth, powered by a truly global platform.