Spencer's Retail Ltd on Friday said it will acquire 100 per cent stake in grocery chain Nature's Basket -- a wholly-owned subsidiary of Godrej Industries Ltd -- for a cash consideration of Rs 300 crore.
The RP-Sanjiv Goenka Group company, which runs 156 grocery stores in 39 cities, Friday reported a consolidated net profit of Rs 2.39 crore for the fiscal 2018-19 against a loss of Rs 14.12 crore a year ago.
Shashwat Goenka, the group's sector head Retail and FMCG, said, "Nature's Basket will make Spencer's a truly national player, giving it access to the west of India through its 36 stores in Mumbai, Pune and Bengaluru."
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app