A leading provider of integrated supply chain solutions, TVS Supply Chain Solutions announced on Thursday that it has acquired a majority stake in Bengaluru-based FIT 3PL Warehousing Pvt Ltd, an end-to-end contract logistics service provider.
TVS Supply Chain Solutions acquired 69.1% of the capital of FIT 3PL from FIT Consulting and Services Pvt Ltd. unlocking new levels of efficiency and synergies, a company statement said here.
âFIT 3PL is a significant commercial addition and will further strengthen TVS SCS’s Pan-Indian presence. Our full range of technological capabilities can be leveraged to increase cross-sell and up-sell opportunities and provide solutions to all new and existing FIT3PL customers, “said TVS SCS, Deputy Managing Director, Ravi Viswanathan.
The acquisition would advance TVS SCS’s technological position by increasing scale and enabling customers to optimize their supply chains using the power of emerging technologies, he said. Formerly known as Jayem Warehousing Pvt Ltd, the company was renamed FIT 3PL Warehousing Pvt Ltd in 2020.
FIT 3PL provides end-to-end contract logistics services to more than 70 clients in industries such as office automation, consumer goods, e-commerce, retail, automotive, engineering and high technology. FIT 3PL’s pan-Indian network includes more than 60 facilities managing over 1.5 million square feet of space in 30 cities across the country. The warehouses were strategically located in Tier I and II towns near major industrial areas and warehouses, the statement said.