Aqua Logistics Ltd -Mumbai based logistics solutions provider and international freight forwarder with branches across India, is ready to expand operations as the economic environment has improved over the past six months. The company is planning to expand its family by acquiring three logistics firms in Hong Kong.

The acquisition will be made through its wholly owned subsidiary Aqua Logistics HK Pvt. Ltd.

The three firms comprises of CIT Logistics Ltd, TAG Logistics Ltd and AGI Logistics Ltd.

To begin with the acquisition Aqua Logistics has bought 60% of the shareholdings in each company which makes a total of $ 7.09 million and is aiming to purchase 15% more shareholdings in each company in next 5 years in trenches.