CEVA Logistics to expand in India

CEVA Logistics has announced it will acquire 96 per cent of Mumbai-based Stellar Value Chain Solutions (Stellar SVC) in a bid to become a stronger player in Indian contract logistics.

With the purchase, CEVA Logistics will acquire more than 700,000 square metres of space over a total of 70 facilities in 21 cities across the country, as well as a workforce made up of almost 8,000 employees.

The deal, according to CEVA Logistics, will help it diversify its presence in India, boosting its local workforce, assets, customer roster and capabilities.

“With the addition of Stellar VCS, we will continue our strategic growth with the goal of becoming a top five global logistics player,” said CEVA Logistics CEO, Mathieu Friedberg.

“We are expanding into more key market segments and boosting our presence in this strategic country.”

Started in 2016 by Anshuman Singh, Stellar SVC has grown into a key player in contract logistics with omni-channel fulfilment services in the e-commerce, automotive, food products, consumer, fashion and retail, healthcare and pharmaceuticals market segments.

Singh will continue driving this business following the acquisition.

“I look forward excitedly to the future with CEVA, further supporting our commitment to our customers and allowing them to benefit from CEVA’s global capabilities with our knowledge of India,” said Singh.

“The shared values of our Stellar associates and those of the CEVA Logistics team will allow for a quick integration and new, global opportunities for our associates.”

In other news, this year’s SOLUTRANS trade show is the place to be seen with its 1,000 exhibitor spots now sold out.

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