CEVA Logistics practically triples 3PL footprint in India with acquisition

Third get together logistics supplier (3PL) heavyweight CEVA Logistics has acquired an omnichannel contract logistics supplier in Mumbai in a transfer to just about triple its footprint in India, the agency stated right now.

CEVA, the Dutch 3PL which is a unit of maritime container big CMA CGM Group, stated it had agreed to accumulate 96% of Mumbai-based Stellar Worth Chain Options (Stellar VCS) from an affiliate of personal fairness agency Warburg Pincus and different shareholders.

Began in 2016 by Anshuman Singh, Stellar Worth Chain Options gives contract logistics providers with omnichannel achievement providers within the e-commerce, automotive, meals merchandise, shopper, trend and retail, and healthcare and prescription drugs market segments. 

Phrases of the deal weren’t disclosed, however the corporations stated that Singh will proceed driving his enterprise following the acquisition.

CEVA’s Indian contract logistics operations at present consist of two.7 million sq. toes of house at 75 places throughout 35 cities in India. By means of this deal, it can drastically improve that footprint by including 7.7 million sq. toes of house throughout greater than 70 amenities in 21 cities throughout India. CEVA additionally beneficial properties practically 8,000 Stellar workers, offering a bounce in scale in native experience.

The deal can also be anticipated to learn CEVA’s freight administration and customs enterprise within the area. With new manufacturing traits and provide chain routes growing, CEVA’s international community and wide selection of logistics options gives its APAC shoppers with the agility wanted to navigate altering market circumstances.

“With the addition of Stellar VCS, we are going to proceed our strategic progress with the purpose of turning into a Prime 5 international logistics participant,” CEVA CEO Mathieu Friedberg stated in a launch. “We’re increasing into extra key market segments and boosting our presence on this strategic nation. Stellar has an essential community of contract logistics amenities throughout India and a high roster of consumers. Bringing on their experience and footprint in India is a significant step ahead for CEVA Logistics.”