TVS Logistics has bought majority stake in Australian logistics company Transtar in a Rs 200-crore deal. (£20m).
Transtar International Freight with an annual revenue $130 million is one of Australia’s largest privately owned international logistics companies. Over 70 per cent of its revenues come from Asian markets.
The deal will give TVS deeper access in Australia, and in China owing to Transtar’s strong warehousing presence in the country. The company has about 13,000 sq m of warehousing space across countries in Asia.
TVS, which is based in India, already has operational presence in Singapore, Malaysia, and Thailand. In the UK, it owns TVS Logistics and Rico Logistics.
TVS Logistics’ managing director R Dinesh said the acquisition completes TVS’ suite of services with the addition of freight forwarding capabilities. Also, it widens the spread in the South-East Asian nation, considering the fact that its previous acquisitions have been in the West.