CEVA’s Logistics completes acquisition of Stellar Value Chain in India
MUMBAI : CEVA Logistics successfully concluded the acquisition of Mumbai-based warehousing and transportation specialists, Stellar Value Chain, on November 20, 2023. The global logistics provider secured a 96% stake from an affiliate of private equity firm Warburg Pincus and other shareholders. This strategic move expands CEVA’s foothold in India, enabling the delivery of comprehensive supply chain services across the Asia Pacific region and beyond.
With over two decades of operation in India, CEVA’s acquisition of Stellar significantly enhances its domestic contract logistics and omni-channel fulfillment service. This acquisition establishes a presence in 60+ locations and 35 cities across India, aligning with CEVA’s broader plan to diversify and expand its influence to support the burgeoning sectors of domestic consumption, manufacturing, and warehousing. Approximately 6,000 employees from Stellar will join CEVA as part of this transaction.
The new sites complement CEVA’s existing contract logistics and eCommerce portfolio, extending its capabilities in eCommerce, automotive, food products, consumer goods, fashion and retail, healthcare, and pharmaceuticals. Matthieu Friedberg, CEO of CEVA Logistics, expressed optimism about the collaborative culture, capabilities, and operations that will propel the company to new heights in India.
India’s trajectory to becoming the world’s third-largest economy by 2027 underscores the increasing demand for third-party logistics (3PL) and warehouses, aligning with shifts in consumer behavior and the logistics landscape. The acquisition of Stellar positions CEVA to better serve its customers, with founder Anshuman Singh continuing to lead the legacy Stellar business within CEVA’s extensive logistics network in India.
This acquisition is a pivotal step in CEVA’s global expansion strategy, aiming to secure a spot among the top five global logistics operators. Beyond economic considerations, the integration of Stellar’s facilities is expected to create operational efficiencies, enabling CEVA to innovate sustainably and inclusively for the benefit of its customers.
“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 Mr. Paras Rawal, Managing Director India Subcontinent, CEVA Logistics