TVS Supply Chain Solutions bags 69% stake in FIT 3PL Warehousing

22 Nov 2021 CW Team

TVS Supply Chain Solutions (TVS SCS), a logistics arm of TVS Group, has secured a 69% stake in the Bengaluru-based FIT 3PL Warehousing, which provides end-to-end logistics services.

It will enhance the existing presence of TVS SCS throughout India by adding 1.5 million sq ft of warehousing space. FIT 3PL has a pan India presence and consistently delivers strong and profitable revenue growth.

Joint Managing Director of TVS SCS, Ravi Viswanathan, said that FIT 3PL is important to strengthen TVS SCS's presence in India. The company can use its technology to increase cross-selling and up-selling opportunities, providing solutions to new and existing customers of FIT 3PL. The acquisition will enhance its position in technology by adding scale and empowering customers to optimize their supply chains using emerging technologies.

The company said that FIT 3PL would provide end-to-end contract logistics services to more than 70 customers. It includes over 60 facilities across 1.5 million sq ft in 30 cities across India. Most of its warehousing spaces are in Tier 1 and Tier 2 cities of India, majorly industrial zones, ICDs and warehousing hubs.

The company has a two-pronged approach to sustainable growth by operating within the 3PL warehousing space, which is a high growth sector of road transportation in the market. In its warehousing space, it focuses on white goods, which is on a high growth trajectory. The company, with its well-established network, will cater for the rising demand for logistics in the country, it added.

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