GEODIS on March 31 announced that it has signed a binding agreement to acquire Keppel Logistics. The project will significantly increase GEODIS’ Contract Logistics footprint and eCommerce fulfillment services in Singapore and Southeast Asia.
Marie-Christine Lombard, Chief Executive Officer of GEODIS, commented: “The acquisition of Keppel Logistics will mark a key milestone in GEODIS’ Asia-Pacific ambitions. Keppel Logistics is a well-established regional player, with a strong focus on innovation. 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”.
Based in Singapore, Keppel Logistics is a Contract Logistics specialist with close to 500 employees. Active throughout Southeast Asia, Keppel Logistics owns over 200,000m2 of warehouse space in Singapore, Malaysia and Australia. The company offers end-to-end B2B and B2C logistics solutions, from warehousing to last mile delivery.
This project is a significant step along GEODIS’ strategic roadmap for the Asia Pacific region, where GEODIS currently employs 3,700 people spread over 76 sites. The acquisition will reinforce GEODIS as a leading logistics service provider, further expanding its footprint by adding to recent investments in contract logistics sites in India, South Korea and Australia.
The acquisition is subject to regulatory review and approvals, which are expected to be obtained by end of Q2 2022. Both companies will operate as independent businesses and run their operations as usual until that time.
Photo credit: GEODIS
