Godrej & Boyce on Thursday said it has acquired Armes Maini, a maker of storage shelving systems and mezzanine structures. The acquisition includes Armes Maini's 20,000 tonne capacity facility in Bengaluru, which would help Godrej & Boyce, a part of Godrej Enterprises group, enhance its intra-logistics capabilities to meet surging demand, the company said.
The acquisition move comes at a crucial time when the logistics industry is experiencing unprecedented growth, driven by evolving consumption patterns and the rapid expansion of quick commerce platforms, it said.
The company, however, did not share the buyout amount.
"With only 40% of current warehousing facilities classified as Grade A, there is a pressing need for sustainable, cutting-edge solutions to improve the quality and efficiency of India's warehousing infrastructure," said Vikas Choudaha, Executive Vice President and Business Head for storage solutions at Godrej Enterprises Group.
The company claims commanding a 30% market share in the storage solution industry in the country.
"Our enhanced capacity will allow us to meet the increasing demands of booming sectors like e-commerce and quick commerce driven by consumption trends and serve the demand for advanced warehousing solutions," he added.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
