Coffee Day Enterprises arm to acquire majority stake in two cos

Coffee Day Enterprises, which runs coffee chain under the brand name Cafe Coffee Day, on Saturday said 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 Rs 40 crore and to execute necessary agreements to proceed further in this regard," Coffee Day Enterprises said in a BSE filing.