Allcargo logistics has added express logistics service to its portfolio by acquiring a controlling stake in Gati Ltd. The company last week confirmed this move after the board approved the deal amounting over Rs 400 crore.
“The exponential rise in cross-border and domestic e-commerce has opened up new markets for traditional express players such as Gati. With Allcargo’s strength in the ocean transportation business and Gati’s expertise in land and air transportation, we are now in a unique position to offer our customers a suite of truly multimodal solutions,” Shashi Kiran Shetty, Chairman, Allcargo Logistics has been quoted in a news report.
A leading player in the Indian logistics space, Allcargo is known for its strength in services like Multimodal Transport Operations (MTO), Container Freight Station Operations/Inland Container Depot Operations (CFS-ICD) and Logistics parks.