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Future Group acquires Transmart's warehousing business
14
Dec '11
The logistics and supply chain section of Future Group, Future Supply Chain Solutions Ltd., has procured Transmart India's warehousing business.

The acquisition deal involves a distribution centre spread on a 200,000 square feet area in suburbs of Mumbai and some of the clients of the Transmart India warehouses.

Anshuman Singh, MD and CEO of Future Supply Chains, said the acquisition has provided the company with a readymade infrastructure with an individual capacity of handling goods worth Rs. 15 billion.

Future Supply Chains, which has 60 centres at strategic locations that serve to over 2,600 retail outlets across the country, has a total warehousing storage space of five million square feet.

Li & Fung Group, a supply chain based in Hong Kong acquired 26 percent share in the Future Supply Chains around two years ago, at a price of US$ 30 million.

Presently, over 70 percent of the company's six billion rupees business comes from servicing the retail operations of its parent firm Future Group.

Transmart India is a division of SCA Group that provides third party logistics services.

Fibre2fashion News Desk - India

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