Coffee Day Enterprises, which runs coffee chain under the brand name Cafe Coffee Day, today said its subsidiary Sical Logistics will acquire majority stakes in two small-sized companies involved in logistics, and warehousing and distribution business.

“The companys 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 Rs 40 crore and to execute necessary agreements to proceed further in this regard,” Coffee Day Enterprises said in a BSE filing. It further said: “The Board of Directors of the subsidiary also approved proposal to initiate the process to acquire majority stake in a company in warehousing and distribution business with an annual revenue of Rs 20 crore and to execute necessary agreements to proceed further in this regard”.

http://indiatoday.intoday.in/story/coffee-day-enterprises-arm-to-acquire-majority-stake-in-2-cos/1/952999.html

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