Financial Daily from THE HINDU group of publications
Friday, Nov 26, 2004
Mergers & Acquisitions
James Mackintosh acquires Gordon Woodroffe Logistics
Chennai , Nov. 25
JAMES Mackintosh & Co. Pvt Ltd of Mumbai has acquired Gordon Woodroffe Logistics Ltd (GWLL).
The deal was signed on Wednesday, a senior official of James Mackintosh confirmed to Business Line today.
The acquisition comes to James Mackintosh as a birthday gift, for the shipping company is celebrating its 150th anniversary today.
Gordon Woodroffe Logistics Ltd came into being in January 2001, when the erstwhile freight forwarding division of the 134-year-old Gordon Woodroffe Ltd was spun off into a wholly-owned subsidiary.
"Between the acquirer and the acquired, we have a nearly 300-year-old legacy," James Mackintosh sources noted.
Neither company was willing to disclose the consideration for the deal.
Gordon Woodroffe Logistics Ltd is into the entire range of logistics services, spanning air and ocean freight, customs and warehouse management, ship chartering, project cargo and shipping agency.
According to its annual report for 2003-04, its turnover in the year was about Rs 45 crore. The company services nine out of 12 major sea ports and 6 major international airports and covers more than 215 locations globally with its World Freight Group members.
James Mackintosh similarly has a range of services such as container and tramp vessel agency, ISO tank agency and protection and indemnity services.
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