CEVA Logistics’ latest acquisition will allow it to chase its goal of expanding in India and becoming a top five global logistics company
Global logistics provider CEVA Logistics has announced it has completed its acquisition of Stellar Value Chain.
The transaction allowed CEVA to acquire a 96 per cent stake in the Mumbai-based warehousing and transport specialists.
The acquisition adds to CEVA’s existing presence in India, allowing for the delivery of holistic supply chain services to customers across the Asia Pacific region and beyond.
Having been operating in India for more than two decades, CEVA’s acquisition boosts its domestic contract logistics and omni-channel fulfillment service, providing CEVA with a presence in more than 60 locations and 35 Indian cities.
The deal is part of CEVA’s plan to expand and diversify its presence to support the continued growth in domestic consumption, manufacturing and warehousing.
As part of the acquisition, CEVA will welcome around 6,000 employees from the former Stellar business.
“We’re on the cusp of an exciting new era at CEVA Logistics in India. Our combined culture, capabilities and overall operations will allow us to reach new heights,” CEVA Logistics CEO Matthieu Friedberg says.
The new sites will complete CEVA’s existing contract logistics and eCommerce portfolios, strengthening its offerings in a range of markets.
The acquisition is part of CEVA’s journey to become a top five global logistics operator, making operations more efficient and sustainable in the process.
“The acquisition enhances our contract logistics and, with advancements in 3PL, expands our scope in warehousing and fulfilment services,” India subcontinent managing director Paras Rawal says.
“In alignment with our well-established air and ocean business, we will strategically utilise our capabilities to provide a full suite of supply chain logistics solutions for our current and future customers.”