Ceva Logistics to acquire Stellar Value Chain Logistics

French 3PL Ceva Logistics , under parent company CMA CGM , will acquire a 96% stake in Indian logistics group Stellar Value Chain Logistics , an affiliate of private equity firm Warburg Pincus . The acquisition will help Ceva position itself as a top five global logistics company, according to a release from the company. Ceva, acquired by CMA CGM in 2019, was 12th on Air Cargo Next’s Power 25 list of the top forwarders in 2022 , up two spots from 2021, with a throughput of 520,000 tonnes and $18.7 million in logistics revenue. “Going forward, the acquisition would enhance our contract logistics and expand our scope to include reliable warehousing and fulfilment services to provide a full suite of supply chain logistics solutions to our current and future customers,” Ceva Managing Director for India Paras Rawal told Air Cargo Next . “We feel the timing is perfect, as it will strengthen our position as a provider of integrated, end-to-end contract logistics services and drive value at every step.” With the acquisition, Ceva expands its presence in India and gains an additional 7.7 million square feet of space in more than 70 facilities in 21 cities across India, according to a recent release. The purchase price for the acquisition was not disclosed, nor the time frame for the completion of the deal. “India is a good market to get into for freight forwarders for several reasons,” Brandon Fried , executive director of the Airforwarders Association , told Air Cargo Next . “Many manufacturers are adopting a China +1 supply chain strategy, which, in addition to Southeast Asia countries such as Cambodia, Thailand and Vietnam, also includes India. “India is the world's fastest-growing major economy, which is creating significant demand for goods and services, and thus driving growth in the freight forwarding industry,” he said. “India’s middle class is growing, which is expanding the demand for imports into India. Further, India’s trade with the rest of the world is growing rapidly, which is creating opportunities for freight forwarders to move goods between India and other countries.” Strategic growth Founded in 2016, India’s Stellar Value Chain Logistics developed strategies for Indian markets in e-commerce, automotive, food products, consumer, fashion and retail, and health care and pharmaceuticals. Founder Anshuman Singh will continue to drive these operations in India under Ceva, the release stated. “We are expanding into more key market segments and boosting our presence in this strategic country,” Ceva Chief Executive Mathieu Friedberg said in the release. “Stellar has an important network of contract logistics facilities across India and a top roster of customers.” Ceva already had a presence in India with more than 75 locations in 35 cities and 2.7 million square feet of warehouse space, the release stated. Expansion into Africa The announcement of the acquisition comes after Ceva expanded into the African market last year , another region growing rapidly and widely, with 20,000 square meters of warehouse space with its acquisition of Spedag Interfreight, under Swiss parent company M+R Spedag Group. “We expect to see improved volumes, especially at Entebbe International Airport [EBB], ” in Uganda, a Ceva spokesperson previously told Air Cargo Next. The acquisition “will also strengthen Ceva’s air experience and capabilities in the region, particularly for the areas of project cargo and aid and relief.” Ceva operates in 170 countries and has about 110,000 employees at more than 1,300 facilities. Join Air Cargo Next for its second annual Air Cargo Tech Summit on Sept. 18-19 in Brussels, sponsored by Unisys and Brussels Airport and featuring a fireside chat with Brian Hodges, managing director, American Airlines Cargo. For more details and to register, click here .

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