Tata Digital said it has acquired a majority stake in online grocery BigBasket, according to ETtech report. Financial details of the deal were not disclosed.
According to regulatory filings, the company has acquired around 64% stake in Supermarket Grocery Supplies—the business-to-business entity of the online grocer.
The deal was cleared by the Competition Commission of India (CCI) in late April.
“Grocery is one of the largest components of an individual’s consumption basket in India, and BigBasket, as India’s largest e-grocery player, fits perfectly with our vision of creating a large consumer digital ecosystem,” Pratik Pal, chief executive officer of Tata Digital, said in a statement on Friday. “We are delighted to welcome BigBasket as a part of Tata Digital.”
Hari Menon, BigBasket’s co-founder and CEO, said the company was “extremely excited” about its future as part of Tata Group. “As a part of the Tata ecosystem, we would be able to build stronger consumer-connect and accelerate our journey,” he said in the statement.
According to the Tata Digital statement, BigBasket has in its decade-long existence expanded its presence to more than 25 cities across India. The e-grocer has one of the largest assortments of more than 50,000 SKUs (stock keeping units) and also operates a farm-to-fork supply chain with over 12,000 farmers and several collection centres across India to deliver fresh fruits and vegetables.
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