India’s TVS Supply Chain Solutions acquires logistics firm
By Vinu Lal
12:53, 18 November 2021
Indian supply chain services provider TVS Supply Chain Solutions acquired a controlling stake in FIT 3PL Warehousing Private.
TVS acquired a 69.1% stake in the contract logistics services provider from FIT Consulting and Services Private.
The financial terms of the deal were not immediately disclosed.
The transaction will strengthen TVS SCS’ India presence through the addition of more than 1.5m square feet of warehouse space, unlocking new levels of efficiency and synergies, it said.
“Our full range of technology capabilities can be leveraged to increase cross-selling and up-selling opportunities, and provide solutions for all new and existing customers of FIT 3PL,” Ravi Viswanathan, TVS SCS’ joint managing director, said in a press release. “This acquisition will advance TVS SCS’ technology position by adding scale and empowering customers to optimise their supply chains using the power of emerging technologies”.
FIT 3PL provides contract logistics services to over 70 customers across sectors such as office automation, e-commerce, retail, auto and engineering.
FIT 3PL has a network of more than 60 facilities across 30 cities in India.
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