DTDC Courier & Cargo Ltd., an express courier company, today announced the acquisition of Bangalore-based Nikkos with majority stake in the company. The joint venture will be 70% owned by DTDC and 30% by the Bangalore-based Nikkos Logistics. The new entity will be called “DTDC Nikkos International Logistics.
The acquisition of Nikkos complements and expands DTDC’s strategy to offer complete end-to-end logistic solutions to customers in national and international markets. Nikkos logistics solutions will help expand DTDC’s network by linking the domestic offerings globally and vice versa. “The acquisition allows DTDC to combine its strength with Nikkos to penetrate and consolidate its presence globally. Tapping on opportunities will further enable more feet on street, robust infrastructure and delivery capabilities for DTDC around the globe.” said Abhishek Chakraborty, Executive Director of DTDC.
Nikkos Logistics. is a Bangalore based company established in the year 2011. The company has a healthy base of customers across various industry verticals like Pharma, Construction, Aviation, Food, Agriculture, Handicrafts and Engineering. Nikkos Logistics. is involved in the business of complete logistics services by land, sea, air or by any other means, supply chain management service providers.
Commenting on the development, Kochat Narendran, Director said, “DTDC group with global presence and being one of largest domestic logistic player combined with Nikkos network and international expertise could be the key factor for change in the Indian logistic arena with local expertise and global reach in supply chain solution.”
"DTDC has been steadily building up its product portfolio and international presence by setting up various subsidiaries and Joint Ventures. Acquisition of Nikkos is part of the same strategy. Last year, same time, DTDC had acquired Eurostar Express in Dubai which has now become significant player in the Middle East Market. Nikkos is our second successful acquisition within one year" said Suresh Bansal, Director, Head of International Business and Supply Chain Solutions.
Last year, DTDC became the first Indian Express company to have made an acquisition outside India with a majority stake in Eurostar Express of UAE, Fast World Express Pty Ltd of Australia and Kuwait Bayarek General Trading & Contracting Co. W.I.I. in Kuwait.