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Partners Group, Kedaara Capital Fund to buy Vishal Mega Mart

Though the deal size was not disclosed, sources said it was expected to be around Rs 50 billion.

Ranju Sarkar  |  New Delhi 

VMM deal,

Private equity firms and said on Monday they would acquire value retail chain from private equity firm Though the deal size was not disclosed, sources said it was expected to be around Rs 50 billion.

makes healthy margins and is profitable relative to its peers. The existing team, led by former CEO Gunender Kapur, will continue and will be supported by the investors. The transaction is subject to regulatory approval and is expected to close later this year, said.

has 230 stores in 110 locations but most are in northern and eastern India, with few in the south and the west. The plan is to go deeper and have a significantly larger footprint in five years.

The and Kedaara Capital also plan to strengthen supply chain and improve the assortment. Vishal Mega Mart caters to low-income customers with an assortment of apparel (which it started with), general merchandise and food and grocery.

Foodworld, Biyani’s sixth buy in grocery retail in 5 years

In his sixth acqusition in food and grocery space in the last five years, Kishore Biyani's bought grocery retailer Foodworld Supermarkets for Rs 400 million. Foodworld has about 40 grocery stores in southern India. Foodworld had a turnover of Rs 1.2 billion in 2017-18. BS Reporter

First Published: Tue, May 22 2018. 00:46 IST
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