Mumbai: Future Group’s logistic and supply chain arm, Future Supply Chain Solutions, has acquired Transmart India’s warehousing business. The transaction of the deal is undisclosed, but includes a two lacs square feet distribution centre and some of it’s clients.
Established in 2008, Transmart India is a wing of Tushar Jain’s SCA and provides 3PL services, ranges of activities from transportation to warehousing. It has assets worth $6 million and the client portfolio includes Johnson & Johnson and Amway.
Currently operating with 60 strategically located hubs, Future Supply Chain was established in 2007. It provides learning and career development opportunities as it expands across India with over 800 enterprising professionals spread across over 50 locations and more than 2600 retail outlets spread across India. In June, the company announced its plan to raise 1000 crore through an IPO or PE placements in the next one year to expand its business.
Future Supply Chain currently has a warehousing storage space of 5 million square feet and is planning to add seven million square feet of warehousing space in 12 logistics parks in the next four years. It also plans to invest in technology and automation of the warehouses that will be linked with express transportation networks and ports. Hong Kong-based supply chain firm Li & Fung Group had bought a 26 percent stake in the company for $30 million in 2009. With this acquisition, Future Supply Chain now have readymade infrastructure that can handle goods worth 1500 crore each. Currently, the company earns more than 70 percent of its business from servicing retail operations of its parent company Future Group.