Mahindra Logistics Ltd (MLL), a subsidiary of Mahindra & Mahindra, has acquired a majority stake in Lords Freight (India) Pvt Ltd, a move that will help the company enhance its portfolio of services. However, the company did not disclose the percentage of stake it acquired nor the investment.

“Our vision is to be India’s leading, most-preferred integrated logistics service provider’ and international freight forwarding is an essential component of this vision. With this acquisition, MLL’s service portfolio will be considerably enhanced,” said MLL Chief Executive Officer Pirojshaw Sarkari.

“This is our maiden investment, and will considerably add to the value proposition we offer our customers,” Sarkari added. Lords, which specialises in international logistics, is based out of Mumbai with a presence in across all major Indian cities.

In April, MLL, a third-party logistics service provider, had received Rs 200 crore private equity investments from Kedaara Capital in exchange for a minority stake.

"Since our partnership with Kedaara Capital earlier this year, we see a very clear path to an IPO for Mahindra Logistics. It is our goal to grow to Rs 6,000 crore and this is the first of several in-organic steps we have planned. Through a turnaround process, we have made MLL into one of the ten most profitable companies within the Mahindra Group,” said Parag Shah, Managing Partner at Mahindra Partners said.

In 2009, the Mahindra Group had identified logistics as a key focus area.

“This investment by MLL will allow us to pursue a strategy of enhancing our capabilities and expanding our international presence, while simultaneously leveraging MLL’s customer base and process methodologies,” said Shamsudeen Ahmed, Chairman, Lords Freight.

rajesh.kurup@thehindu.co.in

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