Indian Transport & Logistics

CEVA Logistics completes acquisition of Stellar Value Chain

Stellar acquisition provides CEVA with a presence in 60+ locations and 35 cities across India

CEVA Logistics completes acquisition of Stellar Value Chain
Listen to this Article

Global logistics provider CEVA Logistics completed its acquisition of Stellar Value Chain on November 20, 2023.

CEVA acquired a 96 percent stake in the Mumbai-based warehousing and transportation specialist from an affiliate of private equity firm Warburg Pincus and other shareholders, says an official release. "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."

The acquisition of Stellar boosts CEVA’s domestic contract logistics and omni-channel fulfilment service, providing CEVA with a presence in 60+ locations and 35 cities across India, the release added. "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. CEVA will welcome approximately 6,000 employees from the former Stellar business."

Matthieu Friedberg, CEO, CEVA Logistics says: “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."

Recent studies estimate that India is on course to become the world’s third largest economy by 2027. "The demand for third party logistics (3PL) and warehouses is growing in line with shifts in consumer behaviour and the logistics landscape. The Stellar acquisition means CEVA is better able to serve all its customers. Founder Anshuman Singh will continue to lead the legacy Stellar business as part of CEVA’s network of logistics across India. The enhanced presence will offer new opportunities for CEVA in a fast-growing market."

Paras Rawal, Managing Director, India Subcontinent, CEVA Logistics says: “The acquisition enhances our contract logistics, and with advancements in 3PL, expands our scope in warehousing and fulfilment services. 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."

Headquartered in Marseille, France, CEVA Logistics operates across 170 countries with approximately 110,000 employees at more than 1,300 facilities. With pro forma 2022 revenue of $18.7 billion, CEVA Logistics is part of the CMA CGM Group.

Read Full Article
Next Story
Share it