Distributors/Service Centers

Russel’s purchase of Samuel facilities gains government approval

June 4, 2024

Russel Metals has received regulatory approval from the Canadian government to proceed with its planned acquisition of seven service center locations from Samuel, Son, & Co.

Mississauga, Ontario-based Russel said on Tuesday that it received a “no-action” letter from the Canadian Competition Bureau confirming that the agency does not intend to challenge the proposed transaction.

Therefore, the CA$225 million (US$165.5 million) deal, which was announced in December, is now expected to close in the third quarter.

“We are pleased to have obtained regulatory clearance, as we think the acquisition will be favorable for our customers, suppliers, employees, and the communities in which we operate,” said John Reid, Russel’s president and CEO.

The Samuel facilities included in the transaction are in Winnipeg, Manitoba; Calgary and Nisku, Alberta; and Langley and Surrey, British Columbia, in Canada; and Buffalo, N.Y.; and Pittsburgh, in the US.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. Since 2007, she has held various editorial and marketing positions with steel industry publications, associations, and mills. In 2021, after a five-year hiatus working across other industries, she returned to steel trade journalism, joining SMU in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.