Direct Logistics buys Chinese company

Mumbai-based Direct Logistics, a freight forwarding company, has acquired a Chinese logistics company, Shenzhen Dida Logistics, for an undisclosed amount.

This is the first-ever acquisition by an Indian company in Chinese freight forwarding industry. Last year, another Mumbai-based port-based logistics company Allcargo Global Logistics acquired ECU Hold NV, a leading Belgian cargo transportation company.

Direct Logistics, which is in the process of setting up its own office in China, is currently into warehouse-to-warehouse international transportation and marine insurance, apart from cargo.

Shenzhen Dida is focused on freight forwarding, logistics and international transportation. Sunil Devrani, managing director of Direct Logistics, said, ‘We have signed an agreement with Shenzhen Dida for acquiring 100% shares.’