Chennai, Nov 18 (PTI): Leading provider of integrated supply chain solutions, TVS Supply Chain Solutions on Thursday said it has acquired a controlling stake in Bengaluru-based FIT 3PL Warehousing Pvt Ltd, an end-to-end contract logistics services provider.

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TVS Supply Chain Solutions has picked-up 69.1 per cent stake in FIT 3PL, from FIT Consulting and Services Pvt Ltd. This transaction would strengthen the existing pan-India presence of TVS SCS through an addition of more than 1.50 million square foot warehouse space, unlocking new levels of efficiency and synergies, a company statement here said.

"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 FIT3PL", TVS SCS, joint managing director, Ravi Viswanathan said.

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The acquisition would advance TVS SCS' technology position by adding scale and empowering customers to optimize their supply chains using the power of emerging technologies, he said.

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

FIT 3PL provides end-to-end contract logistics services to over 70 customers across sectors such as office automation, FMCG, e-commerce, retail, auto and engineering and hi-tech.

FIT 3PL's pan-India network includes 60 plus facilities managing more than 1.5 million square foot of space in 30 cities across the country. The warehouses were strategically located in Tier I and II cities with proximity to major industrial zones, warehousing hubs, the release said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)