Nippon Express Holdings, Inc. entered into an agreement to acquire Metro Supply Chain Group Inc. from Ldc Logistics Holdings Inc. and La Caisse de dépôt et placement du Québec for an enterprise value of CAD 2.2 billion.
Published on 04/17/2026
at 04:50 am EDT - Modified on 04/17/2026
at 09:51 am EDT
Nippon Express Holdings, Inc. (TSE:9147) entered into an agreement to acquire Metro Supply Chain Group Inc. from Ldc Logistics Holdings Inc. and La Caisse de dépôt et placement du Québec for an enterprise value of CAD 2.2 billion on April 17, 2026. A cash consideration will be paid by Nippon Express Holdings, Inc. The purchase price consists of Enterprise value of CAD 1.8 billion and addition, the actual purchase price will be determined after adjustments in relation to net debt and net working capital of Metro Supply Chain Group are made at time of completion of the Transaction and an earn-out payment of up to CAD 400 million will be paid in cash to the Sellers. Until completion, Metro Supply Chain will continue to operate as usual with no disruption to the business.
As part of the transaction, NX Group has made firm commitments to maintain Metro Supply Chain's management team and headquarters in Montréal, with day-to-day decision-making remaining local. For the period ended September 2025, Metro Supply has net assets of CAD 139.3 million, Total Assets of CAD 844.4 million, revenue of CAD1.377 billion, Operating Profit of CAD 56.433 million, Net income of CAD 2.196 million.
The transaction is subject to customary regulatory approvals and is expected to close from July, 2026 to December, 2026.
JPMorgan Chase & Co. acted as financial advisor for Metro Supply Chain Group Inc. Osler, Hoskin & Harcourt LLP acted as legal advisor for Metro Supply Chain Group Inc. Stikeman Elliott LLP acted as legal advisor for Ldc Logistics Holdings Inc. Borden Ladner Gervais LLP acted as legal advisor for La Caisse de dépôt et placement du Québec.
Nippon Express Holdings Inc. specializes in freight transportation and logistics services. The group provides transport by land, air, rail and sea of products, materials, components, equipment, etc. on behalf of companies and organizations. At the same time, Nippon Express Holdings Inc. offers warehousing and supply chain management solutions. The group's activities are essentially organized around 3 areas:
- logistics services;
- cash and precious goods transportation services; and
- heavy equipment transportation services.
Net sales are distributed geographically as follows: Japan (59.2%), Asia and Oceania (18.3%), America (14.6%) and Europe (7.9%).
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Nippon Express Holdings, Inc. entered into an agreement to acquire Metro Supply Chain Group Inc. from Ldc Logistics Holdings Inc. and La Caisse de dépôt et placement du Québec for an enterprise value of CAD 2.2 billion.
