Stellar Value Chain Solutions Pvt Ltd (Stellar), backed by Warburg Pincus, today announced the 100% acquisition of ‘Patel Roadways’ business, 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-truck-load (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 & 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.
Mr. Anshuman Singh, Chairman and Managing Director, Stellar Value Chain said, "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."