Post Date : April 20, 2019
Strategic acquisition to provide end-to-end value chain transformation & capabilities to service every corner of the country
Stellar Value Chain Solutions Pvt Ltd (Stellar), one of India’s fastest growing third-party logistics services company, today announced the 100% acquisition of Patel Roadways, the surface transportation arm of Patel Integrated Logistics Ltd (PILL), a well-known transportation company. Innovative Logistics Services Pvt Ltd, a 100% subsidiary of Stellar will acquire Patel Roadways division of PILL including Express, Less-than-truckload (LTL) and Full-truck-load (FTL) segments by way of slump sale in an all-cash deal.
Stellar had earlier acquired Kelvin Cold Chain Logistics Pvt Ltd and Innovative Logistics Services Pvt Ltd. The acquisition of Patel Roadways significantly strengthens Stellar’s operational capabilities and augments its road network reach to over 350 branches servicing more than 15,000 pin-codes pan-India. This latest acquisition also complements Stellar’s Contract Logistics’ warehousing capabilities and enables value chain transformation for its customers across E-commerce, Consumer Retail, FMCG, Auto, Pharma, Telecom, Industrial, Chemicals& Electronics sectors.
“With the Patel Roadways acquisition, we intend to make deeper inroads in the Express and LTL distribution space across the country. Patel Roadways is an extremely reputed brand and we have known it well for decades. It is a matter of pride for us to acquire this business.”Anshuman Singh, Chairman and Managing Director, Stellar Value Chain Solutions Pvt Ltd
Mr Singh further added, “Our constant endeavour at Stellar Value Chain is to bring about value chain transformation for all our customers releasing economic value and act as a catalyst to build not just an organization, but a Stellar India through world-class infrastructure and technology-enabled processes.”
“We take immense pride in having built Patel Roadways as a pioneer brand in the LTL industry having strong relationships with a large number of customers over the decades. We were looking at avenues to grow and scale up the business further. We believe Stellar is best suited to not only help the business flourish but also help in nation building.”Arif Patel, Vice Chairman, Patel Integrated Logistics Ltd