CMA CGM’s logistics arm CEVA Logistics has signed an agreement to acquire 96% of Mumbai-based Stellar Value Chain Solutions from an affiliate of private equity firm Warburg Pincus and other shareholders.
Started in 2016 by Anshuman Singh, Stellar Value Chain Solutions has become an important local player in contract logistics with omni-channel fulfillment services in the eCommerce, automotive, food products, consumer, fashion and retail, healthcare and pharmaceuticals market segments.
Anshuman Singh, who will continue to lead this business after the acquisition, commented, “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.”
He added, “I look forward excitedly to the future with CEVA, further supporting our commitment to our customers and allowing them to benefit from CEVA’s global capabilities with our knowledge of India. The shared values of our Stellar associates and those of the CEVA Logistics team will allow for quick integration and new, global opportunities for our associates.”
CEVA will acquire approximately 715,000 m² of space across more than 70 facilities in 21 cities across India. In addition, CEVA will inherit the Stellar workforce of nearly 8,000 full-time and temporary employees. CMA CGM’s subsidiary is currently present in 75 locations across 35 cities in India with approximately 25,000 m² of warehouse space.
With the acquisition, CEVA Logistics expects to become a stronger player in Indian contract logistics, offering its new customers global expertise and increased operational efficiency and innovation.
The deal is also expected to benefit CEVA’s freight management and customs business in the Asia Pacific region.
Mathieu Friedberg, CEO of CEVA Logistics, said, “With the addition of Stellar VCS, we will continue our strategic growth with the goal of becoming a Top 5 global logistics player. We are expanding into more key market segments and boosting our presence in this strategic country.”
