Times HeraldTimes Herald
  • World
  • India
  • Politics
  • Sports
  • Business
  • Tech
  • Entertainment
What's Hot

In La Opinión Hoy: Trump would face “criminal organization” type charges

August 15, 2023

Putin congratulates India on Independence Day, sends congratulatory message to PM Modi and President Murmu

August 15, 2023

The Taliban cry out against the “invaders” two years after the “conquest” of Kabul

August 15, 2023
Facebook Twitter Instagram
Times HeraldTimes Herald
  • World
  • India
  • Politics
  • Sports
  • Business
  • Tech
  • Entertainment
Times HeraldTimes Herald
Home»Business»Reliance Retail acquires ‘Metro Cash & Carry India’
Business

Reliance Retail acquires ‘Metro Cash & Carry India’

Times HeraldBy Times HeraldDecember 22, 2022
Facebook Twitter Pinterest LinkedIn Email WhatsApp
Reliance Retail acquires 'Metro Cash & Carry India'
Reliance Retail acquires 'Metro Cash & Carry India'

Reliance Retail Ventures Limited (‘RRVL’), a subsidiary of Reliance Industries Limited, signed agreements to acquire 100% equity stake in Metro Cash and Carry India Private Limited (‘Metro India’). The transaction value of Rs 2,850 crore is subject to closure adjustments. The company is operating in India since 2003. With approximately 3,500 employees, the company operates 31 large format stores in 21 cities.

Metro-India was the first company to introduce the cash-and-carry business format in the country. The company is operating in India since 2003. With approximately 3,500 employees, the company operates 31 large format stores in 21 cities. The multi-channel B2B cash & carry wholesaler business in India has a reach of close to 3 million customers, of which 1 million customers actively shop through its store network and eB2B apps.

In the financial year 2021-22 (financial year ending September 2022), Metro India posted sales of ₹7,700 crore (€926 million), its best ever performance in India. Through this acquisition, Reliance Retail will get a wide network of Metro India stores located at prime locations in major cities, thereby strengthening the market presence of Reliance Retail. Along with this, a large base of registered grocery and other institutional customers and a very strong supplier network will also be available.

Read this also: Amidst outcry in China, 5 new cases of Coronavirus in Delhi, 1 patient died.

Talking about the investment, Isha Ambani, Director, Reliance Retail Ventures Ltd. said, “The acquisition of Metro India is in line with our new commerce strategy to create a unique model of shared prosperity through active collaboration with small merchants and enterprises.

Metro India is a leading and dominant player in the Indian B2B market and has built a solid multi-channel platform. We believe that our understanding of the Indian merchant and grocery eco system and the new Metro India stores will be a boon for small businesses.

Metro AG CEO Dr. Stefan Grebel said that we are confident that we have found a suitable partner in Reliance. Reliance is well positioned to successfully lead Metro India into the future. This will benefit both our customers and our employees. The transaction is subject to certain regulatory and other customary closing conditions and is expected to be completed by March 2023.

Share. Facebook Twitter Pinterest WhatsApp
Previous ArticleThe fear of Corona started troubling again, Mandaviya gave these instructions in the review meeting regarding Covid-19
Next Article Cold wave in many states, fog wreaks havoc in UP-Delhi, trains and flights also late
Times Herald
  • Website

Times Herald provides latest news from the country and the world, We covers world news, India news, politics, sports, business, entertainment and more.

Related Posts

Goldman Sachs will cut jobs, May Cut 8% Workforce or 4000 Jobs

December 30, 2022

Air India preparing to buy 500 new aircraft, the biggest deal ever – Report

December 12, 2022
Latest Posts

The Taliban cry out against the “invaders” two years after the “conquest” of Kabul

August 15, 2023

More than a third of Afghan children are forced to work in Taliban Afghanistan

August 15, 2023

Dog attacks on adults are on the rise…Is it okay to blame such breeds? Research revealed

August 15, 2023
//

Get all the latest news from the world, India, politics, viral, business, technology on Times Herald.

//

Get all the latest news from the world, India, politics, viral, business, technology on Times Herald.

Connect with us:

Facebook Twitter
Categories
  • World
  • India
  • Politics
  • Sports
  • Business
  • Tech
  • Entertainment
Recent Posts
  • In La Opinión Hoy: Trump would face “criminal organization” type charges
  • Putin congratulates India on Independence Day, sends congratulatory message to PM Modi and President Murmu
© 2023 Times Herald. Designed by Hayat Technologies.
  • Term and Conditions
  • Privacy Policy
  • Contact

Type above and press Enter to search. Press Esc to cancel.