How shippers can in-source their logistics
In an unusual move, the Nasdaq-listed Coffee Holding, coffee roaster and trader located in USA, is merging with Delta Corp Holdings, a 3PL active in bulk & energy logistics, fuel supply, commodities, and asset management.
The deal is a share exchange agreement, whereby Coffee Holding and Delta will each become wholly owned subsidiaries of a newly created holding company incorporated under the laws of the Cayman Islands.
Following closing of the transactions, which the parties anticipate will occur in Q1/2023, the combined company will continue under Pubco, and expects to trade on Nasdaq under the ticker symbol DLOG.
The combined company will continue to operate under the Delta management team led by Mudit Paliwal, CEO and Founder, while Coffee Holding will retain the leadership of Andrew Gordon, currently Coffee Holding’s president and CEO. (sh)