Japan-based SBS Group has acquired Bangalore-based Atlas Logistics for an undisclosed amount.
"The acquisition of Atlas Logistics...Will expand our footprint, add depth and efficiency to our network and offer convenience for our customers who are expanding globally," SBS Group Director Akihiko Okamoto San said in a statement.
The director said that buying 80% stake in the Banglore-based firm is part of the long-term strategy of SBS Holdings to make an inroad in to Asian market.
"In the near future we hope to develop a strong hold in logistics business in India by providing know-how on land transportation business, warehouse business and third-party logistic services," he said.
Atlas Logistics Chairman and Managing Director H R Venkatesh Rao said with this acquisition substantial synergy would be created for both the firms resulting in faster growth of the combined entity.
"We will strengthen our shipping services globally," he said.
