On January 17, 2024, Mullen Group Ltd. announced its intention to acquire ContainerWorld Forwarding Services Inc., based in Richmond, British Columbia, including its operating subsidiaries. The acquisition, expected to close in Q2 2024, is subject to regulatory approvals and standard closing conditions. ContainerWorld, specializing in logistics for the alcoholic beverage and hospitality sectors, offers services like inventory management and freight forwarding in British Columbia and Ontario.

Mullen Group’s Chair, Murray K. Mullen, highlighted the acquisition's alignment with the company’s strategy to diversify into lucrative markets. He emphasized the growth potential in Canada’s alcoholic beverage sector and ContainerWorld's significant role as a logistics provider. The acquisition will expand Mullen Group's footprint in key Canadian provinces and add over one million square feet of warehousing space.

Dennis Chrismas, the founder of ContainerWorld, will continue to oversee operations post-acquisition. ContainerWorld, which will be part of Mullen Group's Logistics & Warehousing segment, is expected to generate annual revenues of around $150 million, with operational income margins aligning with the segment's current figures. The purchase will be financed through Mullen Group’s existing credit lines.