TVS Supply Chain Solutions picks up 69.1 pc controlling stake in FIT 3PL Warehousing

TVS Supply Chain Solutions (TVS SCS) on Thursday said it has picked up 69.1 per cent controlling stake in Bengaluru-based end-to-end contract logistics services provider, FIT 3PL Warehousing Pvt Ltd (FIT 3PL).

The stake in FIT 3PL has been acquired from FIT Consulting and Services Private Limited. This transaction will strengthen the existing pan-India presence of TVS SCS through the addition of more than 1.5 million sqft of the warehouse space, unlocking new levels of efficiency and synergies, TCS Supply Chain Solution said in a statement.

FIT 3PL is one of the few independent Indian logistics companies with a pan-India presence and has consistently delivered strong and profitable revenue growth over the years, it stated.

TVS SCS Joint Managing Director Ravi Viswanathan said, "FIT 3PL is an important business addition and will further strengthen the company's pan-India presence. 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."

He added that 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.

Set up in 1997, FIT 3PL, a full-fledged 3PL company, provides end-to-end contract logistics services to over 70 customers across sectors such as office automation, FMCD, FMCG, e-commerce, retail, auto and engineering and hi-tech, as per the statement.

FIT 3PL's pan-India presence and the network include over 60 facilities managing more than 1.5 million sqft of space across 30 cities in the country at high occupancy.

These warehouses are strategically located in tier-I and II cities with proximity to major industrial zones, inland container depots and warehousing hubs, it said.

Earlier known as Jayem Warehousing Private Limited, the company was rebranded as FIT 3PL Warehousing Pvt Ltd in 2020.

The company has a two-pronged approach to sustainable growth by operating in the 3PL warehousing space, which is a high growth sector and the road transportation space that is a huge market in itself.

Within warehousing, the company is focused on white goods, which is on a high growth trajectory. With a well-entrenched network across India, the company will be able to cater to the surge in demand originating from any geography, TVS SCS said in the statement.

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