TVS Logistics acquires British Company for Over 100 cr

CHENNAI: Integrated supply chain major in India TVS Logistics Services Ltd, through its British arm TVS Rico Supply Chain, has acquired over 60 pct stake in Britain-based SPC International for over 100 crore, the company said on Thursday.

In a statement here, TVS Logistics said the British company SPC International has a turnover of 165 crore and the acquisition adds repair and parts supply to the company's comprehensive list of end-to-end supply chain services for its customers worldwide.

SPC International has operations in Britain, France, Slovakia, the US and India; and provides employment to 350 skilled professionals across these geographies.

It offers hardware support with specialisation in IT spares and repairs, supporting original equipment manufacturers and multi-vendor maintenance companies.

"We started acquiring companies globally in search of knowledge, technology, innovations, and global best practices, and we continue to deliver best-in-class logistics services in developed economies like Britain and the US," R. Dinesh, Managing Director, TVS Logistics, was quoted as saying in the statement.

Read Also:
Snapdeal Joins Truecaller To Enhance Customer Experience
Cognizant Acquires Intelligent Products Firm Brilliant Service