Snowman Logistics provides temperature-controlled storage and transportation services to food, FMCG and pharma customers and is headquartered in Bangalore. It operates an aggregate capacity of 33,400 pallets across 18 locations and a fleet of 158 reefer vehicles, serving clients such as Hindustan Unilever, Baskin Robbins, Pizza Hut, Mother Dairy and ITC. The company is a subsidiary of BSE-listed Gateway Distriparks and was initially promoted in 1997; Gateway acquired a majority stake in November 2006 while Mitsubishi Corporation, Mitsubishi Logistics and Nichirei Logistics Group have been material shareholders. Market research cited in the article projects significant growth in the cold-chain sector, and investors characterized the deal as a derivative play on India’s domestic consumption growth. Following the transaction Snowman is expected to remain a Gateway subsidiary with Gateway holding roughly a 51% stake. The article does not disclose company revenues.

Total raised

$10M

Funding rounds

1

Latest round

Equity

Latest activity

Jun 2013