Logistics company Geodis has signed a binding agreement to acquire Keppel Logistics to strengthen its contract logistics presence and online fulfillment services in Singapore and Southeast Asia.
Based in Singapore, Keppel Logistics is a contract logistics specialist with nearly 500 employees. Active throughout Southeast Asia, Keppel Logistics has more than 200,000 m2 of warehouses in Singapore, Malaysia and Australia.
The company offers end-to-end B2B and B2C logistics solutions, from warehousing to last-mile delivery, with strong skills in omnichannel e-commerce service offerings through its UrbanFox platform.
Geodis offers supply chain optimization, freight forwarding, contract logistics, distribution and express, and road transport services. Its operational locations in Southeast Asia include Indonesia, Malaysia, Vietnam, Thailand, the Philippines and Singapore.
In January, Geodis announced a logistics partnership with AirAsia X for expand its AirDirect cargo network in Asia-Pacific.
Marie-Christine Lombard, CEO of Geodis, said: “The acquisition of Keppel Logistics will mark a key step in GEODIS’ ambitions in Asia-Pacific. Keppel Logistics is a well-established regional player with a strong focus on innovation. Thanks to this acquisition, which will combine the global leadership of GEODIS with the strong local presence of Keppel Logistics, we believe we can create great value for our customers, facilitating their growth, particularly in the Asian e-commerce market”.
The acquisition is expected to be completed at the end of the second quarter of 2022. The two companies will operate as independent businesses and conduct business as usual until then.
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