CHENNAI : TVS Supply Chain Solutions on said it has acquired a controlling stake (69.1%) in Bengaluru-based FIT 3PL Warehousing an end-to-end contract logistics services provider. The amount of investment made remains undisclosed.
TVS SCS has acquired the said stake in FIT 3PL, from FIT Consulting and Services Private Limited, and expects this transaction to strengthen the existing pan-India presence of TVS SCS through an addition of more than 1.5 million square feet of warehouse space, unlocking new levels of efficiency and synergies.
FIT 3PL has a pan India presence and has consistently delivered strong and profitable revenue growth over the years, TVS SCS said in a statement. Earlier known as Jayem Warehousing , the company was rebranded as FIT 3PL Warehousing in 2020.
FIT 3PL is an important business addition and will further strengthen TVS SCS’ 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,” Ravi Viswanathan , Joint Managing Director, TVS Supply Chain Solutions, said.
Set up in 1997, FIT 3PL provides end-to-end contract logistics services to over 70 customers across sectors such as office automation, FMCD, FMCG, E-Com, Retail, Auto & Engineering and Hi-Tech. FIT 3PL’s pan-India presence and network includes over 60 facilities across 30 cities in India at high occupancy.