Spencer's Retail To Purchase Nature's Basket In Rs 300-Crore Deal

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Spencer’s, part of RP Sanjiv Goenka Group (RPG), already runs its personal grocery shops in components of the nation

Spencer’s, part of RP Sanjiv Goenka Group (RPG), already runs its personal grocery shops in components of the nation.

The deal will give Spencer’s entry to the western a part of India via 36 shops of Nature’s Basket in Mumbai, Pune and Bengaluru, Shashwat Goenka, who leads RPG’s retail unit, mentioned in an announcement.

Spencer’s Retail Ltd will purchase upmarket grocery chain Nature’s Basket from Godrej Industries for Rs 300 crore ($42.76 million), the businesses mentioned on Friday.

“Nature’s Basket has a strong portfolio of private label brands which has huge traction with its consumers,” Mr Goenka mentioned, including that RPG would additionally profit from the chain’s on-line grocery enterprise.

Nature’s Basket competes with the likes of Future Retail Ltd owned Meals Corridor, in addition to Alibaba Group backed on-line grocery firm Bigbasket.

Spencer’s, which reported its outcomes individually, made a internet revenue of Rs 1.83 crore for the quarter ended March 31.