Third party supply chain and logistics firm Stellar Value Chain Solutions today said it will acquire majority stake in integrated cold chain logistics company Kelvin Cold Chain for an undisclosed amount.
Ambit Pragma, an SME private equity fund, would retain a minority stake in Kelvin Cold Chain, it said in a statement.
Stellar Value Chain Founder and CEO Anshuman Singh said: "The investment into Kelvin augurs well for our mission of bringing about a value chain transformation for consumer businesses in India. Kelvin is a well governed mid-sized cold chain business... We will significantly augment Kelvin's management, implement new technology tools and raise the quality of product handling."
He further said Stellar will make more acquisitions in the third party logistics sector in India.
Ambit Pragma Managing Partner said: "We are delighted with this partnership and look forward to Anshuman's leadership as Kelvin expands its footprint in cold chain logistics."
Stellar is building a pan India network of 25 integrated logistics parks across 21 consumption and production centres which will offer multi-user modern dry warehousing, multi-user e-commerce fulfilment and multi-user cold storage services.
It has an investment of up to USD 125 million from global private equity firm Warburg Pincus.
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