Sanjiv Goenka group scouts for retail, IT acquisition targets

The group, with $4 billion in annual revenues, is also scouting for targets in power utilities as well as IT-enabled services, where it has already bought three companies in the past 12 months

RP Sanjiv Goenka Group is looking to acquire companies in local retail, technology, and power distribution sectors as the diversified the conglomerate looks to rapidly scale up. 
 

“We are poised for a very aggressive expansion,” Group Chairman Sanjiv Goenka (pictured) told Bloomberg TV on Wednesday, saying the Kolkata-based conglomerate was looking to acquire more retail chains and related infrastructure after buying niche sector player Nature’s Basket in 2019. The intent, he said, is to “gain more critical mass” and “greater mass” when asked how he’ll take on sector giants such as billionaire Mukesh Ambani-led Reliance Industries and American e-tailer Amazon.