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Aqua Logistics to acquire upto 60% stake in Star Distribution

14 Sep 2010 Evaluate

Third-party logistics solutions provider Aqua Logistics will be acquiring upto 60 per cent stake for an undisclosed sum in Chennai-based Star Distribution Logistics. The acquisition will help Aqua, strengthen its distribution and reverse logistics capabilities as also get new clients in the FMCG, pharma and consumer electronics space. The deal size is not disclosed.

Aqua will pick 40 per cent stake in Star initially and subject to business done by Star and other conditions, it will acquire an extra 20 per cent within two years, giving it complete control over the target company. Star distribution has a good presence in warehousing and last mile logistics solutions space. Its network is spread over 20 cities and 300 towns.

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