Mullen Group Ltd.
TSX : MTL

Mullen Group Ltd.

January 09, 2015 16:32 ET

Mullen Group Ltd. Closes Acquisition of Gardewine Group Limited Partnership

OKOTOKS, ALBERTA--(Marketwired - Jan. 9, 2015) - Mullen Group Ltd. ("Mullen Group" and/or the "Corporation") (TSX:MTL) announced today the closing of the previously announced acquisition of Manitoba-based Gardewine Group Limited Partnership ("Gardewine") in an all cash transaction for total consideration of $172.0 million. Gardewine, a well-established and reputable company founded in 1952, provides both regional less-than-truckload, truckload and specialized truckload services primarily in Manitoba and Ontario and is one of the largest privately owned transportation carriers in Canada. Gardewine will operate as an indirectly, wholly-owned subsidiary of Mullen Group.

This news release may contain forward-looking statements that are subject to risk factors associated with the oil and natural gas business and the overall economy. Mullen Group believes that the expectations reflected in this news release are reasonable, but results may be affected by a variety of variables. Mullen Group relies on litigation protection for "forward-looking" statements.

Mullen Group is a company that owns a network of independently operated businesses. Mullen Group provides a wide range of specialized transportation and related services to the oil and natural gas industry in western Canada and is one of the leading suppliers of trucking and logistics services in Canada - two sectors of the economy in which Mullen Group has strong business relationships and industry leadership. Mullen Group provides management and financial expertise, technology and systems support, shared services and strategic planning to its independent businesses.

Mullen Group is a publicly traded corporation listed on the Toronto Stock Exchange under the symbol "MTL". Additional information is available on our website at www.mullen-group.com or on SEDAR at www.sedar.com.

Contact Information

  • Mullen Group Ltd.
    Mr. Murray K. Mullen
    Chairman of the Board, Chief Executive Officer and President
    403-995-5200 or Toll Free: 1-866-995-7711
    403-995-5296 (FAX)

    Mullen Group Ltd.
    Mr. P. Stephen Clark
    Chief Financial Officer
    403-995-5200 or Toll Free: 1-866-995-7711
    403-995-5296 (FAX)

    Mullen Group Ltd.
    Mr. Richard J. Maloney
    Senior Vice President
    403-995-5200 or Toll Free: 1-866-995-7711
    403-995-5296 (FAX)
    www.mullen-group.com