Kerry raises stake in Indian forwarder

Asia-based Kerry Logistics has signed a memorandum of understanding to increase its stake in Chennai, India-based Indev Logistics.
The announcement was made at the re-branding ceremony held on 13 April in New Delhi in the presence of minister for commerce and industry, Ms Nirmala Sitharaman.
Indev will be renamed as Kerry-Indev Logistics, reflecting Kerry Logistics’ ambition to becoming a major pan-Indian logistics company.
Chairman of Kerry Logistics, George Yeo, said: “Kerry Logistics’ strength in providing customised supply chain solutions to different industries and Indev’s strong presence and network in India make Kerry-Indev Logistics a strong pan-Indian combination which we hope can make a contribution to the country’s growth and development.”