Vikas Lifecare Limited (VLL) announced it has acquired 30% stakes in the Ardh Sainik Canteens in an all-cash deal of INR 150 Million from its existing stakeholders.
According to the company’s exchange filing, “Vikas Lifecare Limited, as a measure of forward integration, in order to extend its retail footprint across India, taking another giant leap forward while moving at lightening pace on the path of engraving a strong foot-hold in the Consumer Products Retail Market Segment has acquired 30% stakes in the Ardh Sainik Canteens in an all-cash deal of INR 150 Million from its existing stakeholders.”
The Company has been eyeing a space for itself in the retail market segment including E Commerce Market Place for the Consumer Products including the Agro Products business segment expanding exponentially during the recent 12~18 months, the statement said.
Being a strategic investment, Vikas Lifecare Limited commit itself for expansion and broad-basing of Ardh Sainik Canteens business operations, a statement said.
Ardh Sainik Canteen Stores (ASC) is a unique concept for chain of retail stores, owned by Abhhyam Services Private Limited, wherein Canteen (Retail) Stores are being operated/opened across India by the retired paramilitary personnel/family members of existing jawans at their hometowns.
Vikas Lifecare Ltd. (VLL) is an ISO 9001:2015 certified company, with its conventional business interests in the field of manufacturing of Polymer and Rubber compounds and Specialty Additives for Plastics, Synthetic &Natural Rubbers.
