Allcargo Logistics, based in Mumbai, announced on Thursday that it has received board approval to acquire a 30 per cent stake in Gati Kintetsu Express from its Japanese joint venture partner, the Kintetsu World Express (KWE) group.
Gati, an Allcargo group company, owns 70 per cent of the JV, while KWE owns the remaining 30 per cent.

Mint reported last week that Gati is considering buying out its joint venture partner Kintetsu in order to accelerate the company’s growth.

Allcargo Logistics purchased Gati and now owns more than half of the company. KWE owns approximately 3.5 per cent of the company.

KWE India is KWE’s Indian subsidiary. KWE is a subsidiary of the Kintetsu Group, a global conglomerate comprised of 130 affiliated companies.

KWE India, based in Bangalore, provides international air freight forwarding, international sea freight forwarding, customs handling, import and export of goods, warehousing, and last-mile delivery to both B2B and B2C businesses in India.

Gati, which was founded in 1989, has a presence throughout Asia, including a nationwide network that covers 99 per cent of the country’s districts. Among the platform’s key business verticals are express distribution, air freight, ecommerce, and first and last mile logistics. It also provides business-to-consumer services such as Laabh, Bike Express, Student Express, and others.

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