CHENNAI: India’s leading supply chain solutions and freight forwarders TVS Supply Chain Solutions (SCS) on Wednesday announced the acquisition of a Hyderabad-based company Swamy & Sons 3PL for Rs 88 crore, expanding its footprint into the FMCG and FMCD sectors. TVS will acquire an 80% stake in Swamy & Sons, which has a strong presence in Andhra Pradesh and Telangana, and 20% in the next year.
With this, the Chennai-based company, which has 116 warehouse facilities in the country, will add an additional 4 million sq ft of warehousing space other than the existing 20 million sq ft warehouse land as it aims to supply durable FMCG products to dark stores and retail shops. This is the company’s first acquisition after it was listed in August 2023.
K Sukumar, CEO – TVS SCS India, Middle East & Africa, said, “We have been in the B2B business for a long time. We are not into last-mile connectivity services. This acquisition helps us to deliver third party dark stores.” Noting that the company is a predominant player in the automotive gear and engineering and heavy industries, he added that the acquisition will help to expand the company's presence in the durable FMCG segment.
The subsidiary of TVS Mobility Pvt Ltd was first founded in 1995 as TVS Logistics and later incorporated as a separate entity in 2004 as TVS Supply Chain Solutions.
The company reported a revenue of nearly Rs 2,700 crore in India in the last financial year, with its integrated supply chain solutions and network solutions (freight forwarding) contributing 65% and 35% to its total income, respectively.