The transport and logistics provider Geodis has signed a binding agreement to take over Keppel Logistics, which is anticipated to increase its contract logistics footprint and e-commerce fulfilment services in Singapore and Southeast Asia.
Keppel Logistics is a Contract Logistics specialist with approximately 500 employees, based in Singapore and active throughout Southeast Asia, owning warehouse spaces of over 200,000 m² in Singapore, Malaysia and Australia.
The company offers end-to-end business-to-business service (B2B) and business-to-consumer (B2C) logistics solutions, from warehousing to last-mile delivery, with e-commerce omnichannel service offerings.
Onno Boots, President and CEO of Geodis Asia-Pacific believes that the acquisition will strengthen Geodis’ contract logistics and digital omnichannel capabilities, elevate its end-to-end logistics solutions and bring greater value to customers across the region.
“By enhancing our e-commerce 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,” added Boots.
In addition, Marie-Christine Lombard, CEO of Geodis, commented, “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 e-commerce Asian market.”
The acquisition is subject to regulatory review and approvals, which are expected to be obtained by end of the second quarter of 2022. Until that time, both companies will operate as independent businesses, according to a statement.
