FREIGHT forwarder Geodis has signed an agreement to acquire transport service Keppel Logistics to increase its contract logistics footprint in the Asia-Pacific region.
Keppel Logistics is a Singapore-based contract logistics specialist which owns warehouse space in Brisbane, as well as in Singapore and Malaysia.
Geodis chief executive officer Marie-Christine Lombard said the acquisition marks a key milestone in the company’s ambitions for the region, which include e-commerce fulfilment services.
“Through this acquisition which will combine Geodis’ worldwide leadership with Keppel Logistics’ robust local footprint, we believe we can create great value for our customers, facilitating their growth, particularly in the eCommerce Asian market,” she said.
She said the project will expand Geodis’ footprint by adding to recent investments in contract logistics sites in India, South Korea, and Australia.
Geodis Asia-Pacific president and CEO Onno Boots said the company is continuously looking for ways to evolve the region’s supply chain and its clients’ eCommerce ecosystem.
“The acquisition will strengthen our contract logistics and digital omnichannel capabilities, elevate our end-to-end logistics solutions and bring greater value to customers across the region,” Mr Boots said.
“By enhancing our eCommerce services, we will provide brands with the ability to scale their online presence seamlessly and effectively navigate supply chain challenges to accelerate their growth in this region.”
Thomas Pang, Keppel Telecommunications & Transportation CEO said Keppel Logistics has provided customised integrated logistics in Singapore for more than 50 years.
“We believe the integration of Keppel Logistics as part of GEODIS will help accelerate Keppel Logistics’ growth, allowing it to scale up and provide even better value propositions to both its customers and internal stakeholders,” he said.
The acquisition is subject to regulatory review and approvals, which are expected to be obtained by the end of the second quarter of 2022.
Until then, both companies will operate as independent businesses and continue operations as usual.
