Adani Logistics enters cold chain market with majority stake in Snowman Logistics

Adani Logistics has signed an agreement to acquire a majority stake of Rs296 crore in Snowman Logistics from Gateway Distriparks to enter the cold chain logistics. The acquisition gives Adani Logistics platform to double its capacity in next five years. Karan Adani, Chief Executive Officer and Whole Time Director, APSEZ said, “The acquisition is in line with our strategy and vision to be a leader in providing integrated logistics services in India and moving from port gate to customer gate. Cold chain is key product in customer gate strategy given India’s consumer driven demand. With focus on increase in utilisation, higher realisation from product mix and operational efficiencies, this vertical will help further improve returns of logistics business”