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Around 7,700,000 square feet of space across more than 70 facilities spread across 21 Indian cities will be acquired by CEVA. Additionally, CEVA will take over the almost 8,000 full-time and temporary Stellar staff, who have a wealth of knowledge and connections in India.
Date: August 22, 2023
Marseille, France- CEVA Logistics., will purchase 96 percent of Mumbai-based Stellar Value Chain Solutions from an affiliate of private equity firm Warburg Pincus and other shareholders, the company reported.
Since its founding in 2016, Stellar Value Chain Solutions has developed into a significant regional player in contract logistics, offering omni-channel fulfillment services in the market segments for eCommerce, automobiles, food items, consumers, fashion, and retail, as well as healthcare and pharmaceuticals. The business will still be run by Anshuman Singh after the acquisition.
Around 7,700,000 square feet of space across more than 70 facilities spread across 21 Indian cities will be acquired by CEVA. Additionally, CEVA will take over the almost 8,000 full-time and temporary Stellar staff, who have a wealth of knowledge and connections in India. By expanding its local staff, assets, clientele, and skills, the Stellar acquisition will assist CEVA in diversifying its position in India. The agreement supports CEVA's plan to offer comprehensive supply chain solutions to its clients.
The current footprint of CEVA Logistics in India spans 35 cities and 75 locations, with a total storage area of around 2,700,000 square feet. With the acquisition, CEVA Logistics would become a far more powerful participant in the Indian contract logistics market, providing its new clients with access to a wider range of knowledge as well as improved operational effectiveness and innovation.
Mathieu Friedberg, Chief Executive Officer, CEVA Logistics said that by adding Stellar VCS they continue to strive towards becoming a top global logistics player. They are also expanding into more and diverse market in the county and by acquiring Stellar, the company gaims the network of contract logistics facilities across the subcontinent.
Anshuman Singh, founder, Stellar Value Chain Solutions said “We have built a strong network across India based on our commitment to serving our customers through long-term partnerships. Warburg Pincus has been an extremely valuable and supportive partner in building this company right from its inception and is now passing on the baton to another global giant, CEVA Logistics, to take this company ahead.”
The acquisition enhances recent expansion in CEVA's contract logistics business elsewhere in the Asia Pacific area in addition to India. Additionally, CEVA's freight management and customs operations in the area are anticipated to gain from the acquisition. With emerging production trends and supply chain routes, CEVA's extensive logistics solutions and worldwide network give its APAC clients the flexibility they need to deal with shifting market dynamics.
