GEODIS signs deal to buy Keppel Logistics
WAREHOUSING & LOGISTICS

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

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

Next Story
Infrastructure Urban

Bihar CM Launches Rs 12.42 Bn Projects in Nalanda

Bihar Chief Minister Nitish Kumar has inaugurated and laid the foundation stone for 48 development projects worth Rs 1,242 crore in Nalanda district. The projects, announced during the Pragati Yatra, aim to boost infrastructure and enhance public welfare in Rajgir.Addressing a gathering, Nitish Kumar highlighted increased benefits under social welfare schemes, including raising pensions for senior citizens, widows, and differently-abled individuals from Rs 400 to Rs 1,100 per month. Daily allowances for home guards and honoraria for Anganwadi workers, school night watchmen, and ASHA workers ha..

Next Story
Infrastructure Urban

CM Stalin Inaugurates Multiple Welfare Projects in Chennai

Tamil Nadu Chief Minister MK Stalin has inaugurated several development and welfare initiatives across multiple districts, including Chennai. The projects span healthcare, education, housing, and environmental conservation.Stalin flagged off 26 vehicles worth Rs 3.62 crore for tribal hostels and residential schools and launched 25 emergency ambulances costing Rs 5.78 crore, along with 20 mobile medical units worth Rs 4 crore.He also inaugurated 772 new houses built at a cost of Rs 44.48 crore for Sri Lankan Tamil refugees, along with Rs 6.58 crore for basic amenities in eight rehabilitation ca..

Next Story
Infrastructure Urban

Centre Launches Rs 15 Bn Scheme for Mineral Recycling

The Ministry of Mines has released detailed guidelines for the Critical Mineral Recycling Incentive Scheme under the National Critical Minerals Mission. With a total outlay of Rs 1,485 crore, the scheme aims to promote recovery of key materials such as lithium, cobalt, nickel, rare earth elements, and platinum group metals from e-waste, spent batteries, magnets, catalytic converters, and alloy scraps.Beneficiaries will include recyclers of secondary products, classified into Group A and Group B based on their global revenues. Group A covers large recyclers with at least Rs 200 crore in annual ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?