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PNN
Mumbai (Maharashtra) [India], December 31: AVG Logistics Limited, (BSE - 543910, NSE - AVG), AVG Logistics Limited, a leading multimodal logistics solutions provider is announcing to acquire a major stake in M/s Kaizen Logistics. Kaizen Logistics has established itself as a trusted logistics partner, providing a wide range of services including Road Transportation, Multimodal Transportation, Warehousing to some of India's most renowned companies. The company serves major customers including Vedanta group, Aditya Birla group, RIL, Hindustan Zinc Ltd, Gujarat Alkalis, Meghmani Finechem, DCM, Chemfab Alkalis, JSW, Electrosteel, Hindustan Coca Cola, Varun Beverages and many others. The acquisition will create operational synergies, enabling both companies to leverage each other's strengths in the competitive logistics market. The acquisition of Kaizen Logistics shall provide enhanced operational capabilities and an expanded footprint in key sectors, including FMCG, beverages, Metals and industrial Chemicals. The combined entity will have the opportunity to better serve its marquee customers with more robust and integrated logistics infrastructure. This will also open avenues for expanding AVG Logistics' service offerings and customer base, creating long-term value for shareholders, employees, and stakeholders. Kaizen logistics is founded and led by Sumit Garg very known logistician in the industry carrying approx. 20 Years of Logistics experience in Road, Multimodal, Liquid Logistics, warehousing sector. Earlier to Kaizen foundation in 2020, Garg was associated with known logistics company as COO and helped to grow the business from commencement to approx. Rs 300 Cr The acquisition is expected to be completed within Q4 of financial year 2024/25 from the date of this intimation to the stock exchanges, marks a significant step in AVG Logistics' strategic expansion and growth plans in the logistics sector. Commenting on proposal, Sanjay Gupta Managing Director & CEO, AVG Logistics Limited said, "We are very happy to announce our partnership with Kaizen Logistics. This partnership is a beginning to step forward our long-term growth plans and will help us further strengthen our market position. Kaizen's strong customer base, operational expertise will enable AVG to offer enhanced solutions to our prestigious customers and drive significant synergies. This acquisition will benefit our shareholders and create more opportunities for our employees, customers, and partners." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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