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Star Localmart, the retail arm of Sanjay Ghodawat Group (SGG), on Monday said it has acquired Bengaluru-based retail chain DusMinute, which operates in gated communities, for an undisclosed amount.
This acquisition will help Star Localmart expand its network to 170 stores, positioning it as the largest regional retail player in Karnataka, a statement said.
The company is focused on opportunities from tier II to VI cities.
DusMinute, a gated community retail chain, delivers daily essentials directly to residents' doorsteps, as it operates stores within complexes, offering groceries, dairy, fruits, vegetables and household items.
The acquisition covers 40 DusMinute outlets, with additional stores set to open soon, it added.
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Star Localmart has recently announced expansion plans across Maharashtra, Karnataka, Goa, Andhra Pradesh and Telangana, eying a revenue of Rs 5,000 crore over the next five years.
"This acquisition will reinforce its plan to scale up to 3,000 stores by 2030," it said.
SGG Managing Director Shrenik Ghodawat said: "By combining DusMinute's unique hyperlocal platform with our expanding network, we are better positioned to meet the evolving needs of Indian consumers and strengthen our leadership in the retail sector".
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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