Ceva Logistics announced earlier this month to have agreed 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 grown into a key 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 will continue driving this business following the acquisition,” it said.

Ceva will consolidate about 7,700,000 square feet of space “across more than 70 facilities in 21 cities across India”.

In addition, it will “inherit the Stellar workforce of nearly 8,000 full-time and temporary employees, who have strong expertise and relationships in India”.

The deal, Ceva said, will help it diversify its presence in India, “boosting its local workforce, assets, customer roster and capabilities” while strengthening “Ceva’s strategy to provide its customers with end-to-end supply chain solutions”.

The full release is here.

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