GEODIS signs deal to buy Keppel Logistics

GEODIS, a global third-party logistics (3PL) and freight transportation services provider based in Levallois-Perret, France, said this week that it has reached a deal to purchase Keppel Logistics, a Singapore-based contract logistics services provider. The purchase price was reported to be $80 million. According to GEODIS executives, the transaction is pending regulatory assessment and approval, which should be completed by the end of the second quarter. In the interim, GEODIS and Keppel will operate as separate businesses and do business as usual, according to the statement. According to GEODIS, Keppel has almost 500 personnel and a strong presence throughout Southeast Asia, ranking in the top five contract logistics service providers in Singapore. It has warehouse space in Singapore, Malaysia, and Australia totalling over 200,000 square feet. Its service portfolio includes end-to-end B2B and B2C logistics solutions, ranging from warehousing to last-mile delivery, as well as strong expertise in e-commerce omnichannel service offerings, all of which are powered by the company's fast-growing UrbanFox platform. The acquisition will considerably expand GEODIS' contract logistics presence and e-commerce fulfillment services in Singapore and Southeast Asia, according to the business. It said that it is a significant step forward in the company's strategic roadmap for the Asia Pacific region, where it employs 3,700 people across 76 locations. The acquisition will further strengthen GEODIS' position as a premier logistics service provider, adding to previous investments in contract logistics locations in India, South Korea, and Australia, according to the company. In the same release, Thomas Pang, CEO of Keppel Telecommunications & Transportation, told the media that Keppel Logistics has been offering bespoke integrated logistics in Singapore for more than 50 years. Image Source Also read: Geodis takes 3 mn sq ft warehouse facility from LOGOS on lease