Forwarding, Freight News, Logistics

Ceva completes India buy

[ November 21, 2023   //   ]

Ceva Logistics completed its acquisition of Mumbai-based warehousing and transportation specialist Stellar Value Chain on 20 November, buying a 96% stake in the company from an affiliate of private equity form Warburg Pincus and other shareholders. Ceva has been operating in India for more than two decades but the acquisition of Stellar boosts its presence to over 60 locations and 35 cities. The new sites complement its existing contract logistics and eCommerce operations and will strengthen its offerings in automotive, food products, consumer, fashion and retail, healthcare, and pharmaceuticals.