Logistics startup COGOS Technologies has acquired intra-city logistics firm Porter’s FMCG business.
The move is aimed at ensuring continuity of Porter’s business vertical with COGOS’ business model and strengthening the focus on the core business solutions, Porter said.
The company did not disclose the transaction value.
The transaction also involves absorbing the service team, which accounts for 5 per cent of the firm’s total workforce, based on the business model of the two entities.
Porter diversified its service offerings during the pandemic to cater to FMCG companies.
The company said it has reassessed its business priorities and the divestment of the FMCG vertical to COGOS is in line with this process. During COVID, Porter started multiple lines of business, including modern trade (FMCG) and after due deliberations, we decided to focus on our core business and found an alliance with COGOS Technologies for the continuity of the business, said Pankaj Shroff, CFO at Porter.
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