CEVA Logistics completed its acquisition of Stellar Value Chain on November 20, 2023. CEVA acquired a 96% stake in the Mumbai-based warehousing and transportation specialists from an affiliate of private equity form Warburg Pincus and other shareholders. 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.
CEVA has been operating in India for more than two decades. The acquisition of Stellar boosts CEVA’s domestic contract logistics and omni-channel fulfillment 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. They 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 Matthieu Friedberg, CEO of CEVA Logistics.
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 behavior 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.
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 efficiencies of scale, which allow CEVA to optimize its business operations and innovate to directly 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 India Subcontinent.
Source: CEVA Logistics