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Nippon Express Holdings Inc. will acquire Canada-based Metro Supply Chain Group for as much as $2.2 billion to strengthen its logistics presence in North America.
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The agreement includes the purchase of the company at an enterprise value of $1.8 billion, plus a payment of as much as $400 million in cash, conditional on Metro Supply Chain achieving certain financial indicators, Nippon Express said in a statement on Friday. The Japanese company said the actual purchase price will be determined after adjustments based on Metro Supply Chain’s net debt and net working capital.
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The transaction is expected to close between July and December this year.
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Nippon Express is currently assessing the impact of the acquisition on its fiscal 2026 business forecast.
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Nippon Express shares were little changed to close at ¥3,847 on Friday, before the announcement. The stock has gained 15 per cent this year.
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