Kenco Logistics Acquisition of Drexel Industries 3PL Warehouses

United States

Deal value: $120,000,000

Kenco Logistics acquired Drexel Industries’ 3PL division, including four Ontario warehouses totaling 1.1 million SF, to strengthen its Canadian last-mile and 3PL capabilities.

Kenco Logistics acquired Drexel Industries’ 3PL division to rapidly expand its Canadian footprint, strengthen last-mile and fulfillment capabilities, and access strategically located warehouses near major urban centers. The investment is driven by rising demand for flexible, tech-enabled logistics solutions in Canada, and the opportunity to leverage Drexel’s expertise in co-packing and multi-client distribution to serve both B2B and B2C customers more efficiently.