ProConnect Supply Chain Solutions Ltd., a third-party logistics (3PL) company and part of Redington Group, has acquired 90% stake in Auroma Logistics Pvt. Ltd. for a cash consideration of ₹45.67 crore. The Chennai-based ProConnect is currently servicing 12 industry verticals through a network of more than 155 warehouses. The acquisition would enable ProConnect to expand its supply chain business in consumer durables vertical, resulting in bringing new businesses, said E.H. Kasturi Rangan, director, ProConnect.
“We have a robust suite of capabilities on a pan-India basis in the growing 3PL market. Our combined strengths will give our customers best-in-class services,” said R Arunachalam, CEO, ProConnect shares.