TVS Supply Chain Solutions Limited, a global provider of supply chain solutions and one of India’s largest and fastest-growing integrated supply chain solution providers, has announced that it is selling Circle Express through its UK Subsidiary RICO Logistics. This move is intended to enhance the company’s profitability and sharpen its focus on its core offerings to customers.
TVS SCS is committed to delivering superior value to its shareholders and optimizing its business portfolio, and this decision to divest this asset is in alignment with that commitment. By shedding this non-core asset, the company will realign its strategic focus and allocate its resources to its core business objectives.
The transaction was successfully concluded at a value of £2.1 million (approximately INR 21.32 crore).
Mr. Ravi Viswanathan, Managing Director of TVS Supply Chain Solutions Ltd., said, “The sale of Circle Express is an important step as it found very little synergy with the core operations and represents an important step in our efforts to enhance our financial performance and sharpen our competitive edge. We are confident that this sale will allow us to allocate resources more effectively and focus on driving sustainable growth and profitability, and thereby increasing shareholder value.”
