A "stellar" acquisition in the Indian market
Ceva Logistics is acquiring Stellar Value Chain, a Mumbai-based warehousing and transport specialist. With a 96% stake in the company, Ceva can now extend its Indian network.
Ceva has been operating in India for more than 20 years. The acquisition comprises Stellar’s 60 locations in India with 6,000 new employees. These sites can be used for the e-commerce, automotive, consumer and many more industries.
India is set to become the world’s third largest economy by 2027 with demand for 3PL increasing steadily. Having a foothold in this market allows Ceva to capitalise on the growing economy.
“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 Matthieu Friedberg, CEO of Ceva Logistics. (mk)