American parcel giant UPS is acquiring a Canadian supply chain management company founded by Michael Andlauer, the owner of the Ottawa Senators.
UPS announced Thursday it has entered into a definitive agreement to acquire Andlauer Healthcare Group for $2.2 billion CAD ($1.6 billion USD).
Shareholders of Andlauer Healthcare Group (AHG) will receive $55 CAD per share in cash, according to the terms of the agreement, a news release says. The deal, once closed, would expand UPS’s access to temperature-controlled facilities and specialized cold chain transportation capabilities, the company says.
Closing of the transaction is targeted for the second half of 2025, subject to shareholder approval, customary regulatory reviews and approvals, and other customary closing conditions. Thursday’s news release says Andlauer and Andlauer Management Group Inc., the controlling shareholder of AHG, have agreed to vote their shares in favor of the transaction.
Following the close of the transaction, Andlauer will lead UPS Canada Healthcare and acquire Andlauer Healthcare Group, UPS says.
“Andlauer Healthcare Group will help us deliver expanded capability to our customers, driving best in class patient outcomes while contributing to our overall growth plans across the business,” said Kate Gutmann, EVP and president of International, Healthcare and Supply Chain Solutions for UPS. “This acquisition marks another important step in our declaration to be the number one complex healthcare logistics and premium international logistics provider in the world.”
“UPS Healthcare and AHG employees share a similar customer and patient-centric culture with a relentless focus on quality,” said Andlauer. “Once the transaction is completed, the businesses will offer an even broader set of specialized logistics services to customers throughout Canada.”
Andlauer and his group purchased the Senators and the Canadian Tire Centre in September 2023. Last fall, he acquired an additional 12 per cent ownership stake in the Senators from George Armoyan, the first alternate governor of the team.
Last September, the National Capital Commission and the Ottawa Senators reached an agreement in principle to have the Senators buy a 10-acre parcel of land at LeBreton Flats, which would allow the team to build a new arena closer to downtown.
With files from CTV News Ottawa’s Josh Pringle
