Coffee Day Enterprises, which runs coffee chain under the brand name Cafe Coffee Day, said on Sunday its subsidiary Sical Logistics will acquire majority stakes in two small-sized companies involved in logistics, and warehousing and distribution business.
“The company’s subsidiary Sical Logistics Ltd.. 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 ₹40 crore and to execute necessary agreements to proceed further in this regard,” according to a BSE filing.
The Board of Directors of the unit also approved a plan to initiate the process to acquire majority stake in a company in warehousing and distribution business with an annual revenue of ₹20 crore.
