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Coffee Day Enterprises arm to buy majority stake in logistics company

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BANGALORE, India – Coffee Day Enterprises’ subsidiary Sical Logistics Limited in its Board Meeting held on 12 May 2017 have approved the proposal to initiate the process to acquire majority equity stake in a company in the express logistics business with an annual revenue of Rs 40 Cr (US$ 6.24 million) and to execute necessary agreements to proceed further in this regard, said Coffee Day Enterprises in a BSE filing on 13 May 2017.

The Board of Directors of the subsidiary also approved the proposal to initiate the process to acquire a majority stake in a company in warehousing and distribution business with an annual revenue of Rs 20 Cr and to execute necessary agreements to proceed further in this regard, it also said.

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