Kenco Logistics Acquisition of Drexel Industries 3PL Warehouses

Deal value: $112,000,000

Kenco Logistics acquired Drexel Industries’ 3PL division, including four Ontario warehouses totaling 1.1 million SF, to expand its Canadian logistics platform.

Kenco Logistics is acquiring Drexel Industries’ 3PL warehouses to rapidly expand its Canadian logistics footprint, leveraging Drexel’s strategic Ontario locations and expertise in co-packing and fulfillment. The core motivation is to strengthen Kenco’s North American network, better serve existing and new customers, and capitalize on cross-border e-commerce and supply chain demand. The timing reflects heightened need for resilient, flexible logistics infrastructure amid ongoing supply chain disruptions and growth in B2B/B2C fulfillment.