Gurugram: integrated logistics provider, Delhivery today announced that it has signed a definitive agreement to acquire a controlling stake in Ecom Express Limited for a cash consideration of approximately ₹1,400 crore. The acquisition marks a strategic step in Delhivery’s ongoing efforts to strengthen its end-to-end logistics capabilities and extend its service reach across India.
Commenting on the development, Sahil Barua, MD and CEO, Delhivery, said, “The Indian economy requires continuous improvements in cost efficiency, speed, and reach of logistics. We believe this acquisition will enable us to better serve customers of both companies through continued bold investments in infrastructure, technology, network, and people. The founders and management of Ecom Express have built a high-quality network and team, creating a strong foundation to integrate into Delhivery’s operations.”
K. Satyanarayana, Founder, Ecom Express, added: “Delhivery is among India’s leading fully integrated logistics service providers with significant scale advantages and will be the ideal shareholder for Ecom Express’ next phase of growth. This combination of two like-minded players brings inherent synergies that will benefit businesses across India and further strengthen the logistics ecosystem.”
The transaction is subject to customary closing conditions, including approval from the Competition Commission of India.
Shardul Amarchand Mangaldas & Co. acted as legal advisor, while Ernst & Young provided financial and tax due diligence advisory to Delhivery for the transaction.
