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Reliance Retail to acquire Metro Cash & Carry India

December 22, 2022

Reliance Retail to acquire Metro Cash & Carry India
Reliance Retail has signed an agreement to acquire 100 per cent stake in METRO Cash & Carry India for a total consideration of ₹2,850 crore, which is subject to closing adjustments.

Through this acquisition, the company will gets access to a wide network of METRO India stores in locations across key cities, a large base of registered kirana stores and other institutional customers and supplier networks, Reliance Retail said in a press release.

The transaction is subject to certain regulatory and other customary closing conditions and is expected to be completed by March 2023.

“The acquisition will further strengthen Reliance Retail’s physical store footprint and ability to better serve consumers and small merchants by leveraging synergies and efficiencies across supply chain networks, technology platforms and sourcing capabilities. The symbiotic relationship will create greater value for all stakeholders in the retail ecosystem,” Reliance Retail said.

METRO Cash & Carry began operations in India in 2003 and was the first company to introduce the cash-and-carry business format in the country. It currently operates 31 large-format stores across 21 cities and has about 3,500 employees.

The multi-channel B-2-B wholesaler reaches over 3 million customers in India of which 1 million are those who buy frequently through its network of stores and its eB2B app.

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