ASX listed CTI Logistic Limited (CTI) has announced the acquisition of GMK Logistics, a leader in the warehousing and distribution of floor coverings throughout Australia. The acquisition was effected by way of the purchase of shares in Logico Operations Group Limited (Logico), the holding company of G.M. Kane & Sons Pty Ltd trading as GMK Logistics. The purchase price for this acquisition is $27 million.
Thomson Geer’s Sydney Corporate team advised the vendors of Logico on this transaction.