Mullen Group Ltd. has agreed to acquire Willson International Limited and related entities, expanding the Canadian logistics company's customs brokerage and trade compliance reach across Canada and the United States.
Mullen estimates Willson will generate about $80 million in annual revenue, but it did not specify the currency. It expects margins comparable to those in its Logistics & Warehousing segment and projects positive free cash flow. The company said technology will account for most of Willson's continuing capital needs.
Mullen plans to pay for the acquisition with existing cash and expects it to close in the fourth quarter of 2026. It did not disclose a purchase price or specific closing conditions.
Willson employs more than 330 people across Canada and the United States, most of whom hold customs certifications, Mullen said. The company said Willson was founded more than 100 years ago.
After closing, Willson will continue operating separately, with its existing senior management team led by Jim McKinnon. For financial reporting, Willson's Canadian business will be accounted for in Mullen's Logistics & Warehousing segment and its U.S. business in the US & International (US3PL) segment.
Mullen said Willson would complement customs brokerage services currently provided by Cole International. The company sees demand for customs and compliance work across trade cycles because goods still need to pass through land, air and water ports.
The deal follows a long record of acquisitions. Mullen says it and its predecessors have completed more than 89 since the company went public in 1993. Mullen expects Willson to gain access to its financial resources while retaining a separate operating structure. EY Parthenon Corporate Finance Inc. served as Willson's exclusive financial adviser, and EY LLP was its tax adviser.
Mullen is scheduled to release third-quarter results Thursday, Oct. 22, 2026, at 6 a.m. ET. A conference call and webcast are scheduled for 10 a.m. ET.
