TVS Supply Chain acquires Swami & Sons for ₹88 crore
The Hindu
TVS Supply Chain acquires Swamy & Sons for ₹88 crore, enhancing its FMCG capabilities in Andhra Pradesh and Telangana.
TVS Supply Chain Solutions Ltd, through its wholly owned subsidiary FIT 3PL has announced the acquisition Hyderabad-based 3PL company, Swamy & Sons 3PL (S&S3PL) for an enterprise value of ₹88 crore. The acquisition will be funded through internal accruals.
Swamy & Sons with marquee customer in the FMCG & FMCD sectors has a strong presence in Andhra Pradesh and Telangana.
K. Sukumar, CEO – TVS SCS India, Middle East & Africa, said, “This acquisition is a strategic step in our journey to further strengthen our high-performance supply chain platform in India. S&S3PL’s deep expertise in FMCG supply chains, strong geographic reach, and market leadership in Andhra Pradesh and Telangana enhance our ability to serve large customers.”
“The acquisition positions TVS SCS to be among the top warehousing 3PL service providers in India, and our upstream capabilities enable us to service third-party dark stores at scale,” he said.
Arun Swamy, Promoter, Swamy & Sons said, “We have been at the forefront of customer service for over 35 years in this important market of Telangana and Andhra Pradesh.”
“Becoming part of TVS SCS provides S&S3PL’s customers and employees the scale, systems and governance of a leading global supply chain organisation, as well as the ability to take the organisational capabilities forward into other geographies in India, thereby powering the next phase of growth,” he said.
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