Bertelsmann Acquires Majority Stake in Lets Transport
Bertelsmann has been associated with Lets Transport since it first invested in the company in late 2018.
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German media and services conglomerate Bertelsmann has acquired a majority stake in Indian logistics platform Lets Transport, signalling its intent to expand further in the country’s growing logistics sector.
According to reports, Bertelsmann Investments now holds 80% ownership in the company.
“We now have 80%,” Bertelsmann Investments CEO Carsten Coesfeld said in an interview published on Tuesday. Bertelsmann has been associated with Lets Transport since it first invested in the company in late 2018.
Founded in 2015, Lets Transport operates as a technology-driven platform that connects truck drivers with corporate customers across India. The company focuses on improving efficiency and transparency in the country’s fragmented logistics industry.
Coesfeld highlighted the potential of the sector, stating, “The market for Lets Transport is worth USD 14 billion, with an annual growth rate of around 11% – but 90% of it is unorganised.” He also noted the company’s broader outlook towards India, saying, “It is highly attractive. We are convinced of its potential.”
While financial details of the transaction were not disclosed, a person familiar with the development said the investment was a high double-digit million-dollar deal. The source added that in a potential sale scenario, Lets Transport could command a valuation in the three-digit million-dollar range.
This acquisition marks Bertelsmann’s first strategic purchase in India. Coesfeld indicated that the company may consider acquiring additional assets within the logistics supply chain, including warehousing infrastructure.
German media and services conglomerate Bertelsmann has acquired a majority stake in Indian logistics platform Lets Transport, signalling its intent to expand further in the country’s growing logistics sector.
According to reports, Bertelsmann Investments now holds 80% ownership in the company.
“We now have 80%,” Bertelsmann Investments CEO Carsten Coesfeld said in an interview published on Tuesday. Bertelsmann has been associated with Lets Transport since it first invested in the company in late 2018.
Founded in 2015, Lets Transport operates as a technology-driven platform that connects truck drivers with corporate customers across India. The company focuses on improving efficiency and transparency in the country’s fragmented logistics industry.
Coesfeld highlighted the potential of the sector, stating, “The market for Lets Transport is worth USD 14 billion, with an annual growth rate of around 11% – but 90% of it is unorganised.” He also noted the company’s broader outlook towards India, saying, “It is highly attractive. We are convinced of its potential.”
While financial details of the transaction were not disclosed, a person familiar with the development said the investment was a high double-digit million-dollar deal. The source added that in a potential sale scenario, Lets Transport could command a valuation in the three-digit million-dollar range.
This acquisition marks Bertelsmann’s first strategic purchase in India. Coesfeld indicated that the company may consider acquiring additional assets within the logistics supply chain, including warehousing infrastructure.
