Global logistics provider CEVA Logistics completed its acquisition of Stellar Value Chain on 20 November 2023. CEVA acquired a 96% stake in the Mumbai-based warehousing and transportation specialists from an affiliate of private equity firm Warburg Pincus and other shareholders. The acquisition adds to CEVA’s existing presence in India, allowing for delivering holistic supply chain services to customers across the Asia Pacific region and beyond.
CEVA has been operating in India for more than two decades. The acquisition of Stellar boosts CEVA’s domestic contract logistics and omnichannel fulfilment service, providing CEVA with a presence in 60+ locations and 35 cities across India. 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.
The new sites complement CEVA’s existing contract logistics and eCommerce portfolio. It will extend its scale and scope to strengthen its offerings in the eCommerce, automotive, food products, consumer, fashion and retail, healthcare, and pharmaceuticals market segments.
“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,” commented CEVA Logistics CEO Matthieu Friedberg.
Recent studies estimate India will 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 logistics network across India. The enhanced presence will offer new opportunities for CEVA in a fast-growing market.
The acquisition is part of CEVA’s journey to becoming a Top 5 global logistics operator. But it’s not just about economics. The new facilities will create scale efficiencies, allowing CEVA to optimize its business operations and innovate to benefit its customers in a sustainable, inclusive way.
“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 utilize our capabilities to provide a full suite of supply chain logistics solutions for our current and future customers,” said Paras Rawal, Managing Director of India Subcontinent.
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