Canada Post Corp. has signed a deal to sell SCI Group Inc., its third-party logistics business, to Metro Supply Chain Inc.DARRYL DYCK/The Canadian Press
Canada Post Corp. has signed a deal to sell SCI Group Inc., its third-party logistics business, to Metro Supply Chain Inc.
Financial terms of the agreement were not immediately available.
Montreal-based Metro Supply Chain calls the deal a transformational acquisition that will strengthen its position in strategic contract logistics services.
SCI has more than 75 locations and employs about 3,000 people.
The deal comes after a detailed review and assessment of Canada Post’s long-term strategic plan.
The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions.