Adani to acquire a 40.25% stake in Snowman Logistics from Gateway Distriparks for $42m.

Adani Logistics, a unit of Adani Ports, agreed to acquire a 40.25% stake in Snowman Logistics, which engaged in providing temperature-controlled logistics, including storage, transportation by road, and distribution of products requiring a temperature-controlled environment, from Gateway Distriparks, a logistics company, for $42m. “The acquisition is in line with our strategy and vision to be a leader in providing integrated logistics services in India and moving from the port gate to customer gate,” Karan Adani, Adani Ports Chief Executive.