Logistics company Geodis has signed a binding agreement to acquire Keppel Logistics to boost its contract logistics presence and e-commerce fulfillment services in Singapore and Southeast Asia.
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, with strong skills in e-commerce omnichannel service offerings due to its UrbanFox platform.
Geodis offers supply chain optimisation, freight forwarding, contract logistics, distribution and express, and road transport services. Its southeast Asia operational locations include Indonesia, Malaysia, Vietnam, Thailand, Philippines and Singapore.
In January, Geodis announced a logistics partnership with AirAsia X to expand its AirDirect cargo network in Asia Pacific.
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”.
The acquisition is expected to be finalised at the end of the second quarter of 2022. Both companies will operate as independent businesses and run their operations as usual until that time.