MNS Pro
MONEY NOT SLEEP
  • India Market
  • International Market
  • Crypto
  • International News
  • हिंदी मे
No Result
View All Result
  • India Market
  • International Market
  • Crypto
  • International News
  • हिंदी मे
No Result
View All Result
MONEY NOT SLEEP
MNS Pro
Home India Market

For Rs 2,850 crore, Reliance Retail would purchase Metro Cash & Carry India

moneynotsleep by moneynotsleep
December 24, 2022
in India Market, India News
0
reliance retail
0
SHARES
4
VIEWS

Subject to closing adjustments, Reliance Retail has inked a legally binding agreement to buy a 100% share in Metro Cash & Carry India for a total cash consideration of Rs. 2,850 crores.

Reliance Retail claimed in a statement that it would have access to a huge base of registered kiranas and other institutional clients, a supplier network, and a vast network of Metro India outlets situated in important cities through this transaction.

The acquisition is scheduled to close by March 2023, subject to a few regulatory requirements and other usual closing conditions.

“By using synergies and efficiencies across supply chain networks, technological platforms, and sourcing capabilities, the purchase will further expand Reliance Retail’s physical store base and capacity to better serve customers and small businesses. The mutually beneficial collaboration will increase value for all parties involved in the retail ecosystem, “said Reliance Retail.

The first enterprise to introduce a cash-and-carry business model to India was Metro India, which started operating there in 2003. With roughly 3,500 workers, it presently has 31 big-format stores in 21 locations.

Through its shop network and eB2B app, the multi-channel B2B cash & carry wholesaler has access to over 3 million B2B clients in India, of which 1 million are frequent buyers.

According to Reliance Retail, Metro India’s FY22 sales of Rs 7,700 crore (€926 million) were the company’s highest sales performance since entering the Indian market.

Isha Ambani, Director of Reliance Retail Ventures, stated in the statement: “The purchase of Metro India fits with our new business strategy, which is to create a special model of shared prosperity by actively collaborating with small businesses and retailers. In the Indian B2B sector, Metro India was a pioneer and a major participant. It has developed a powerful multi-channel platform that offers a superior customer experience.”

We think that Metro India’s strong financial position and our comprehensive knowledge of the Indian merchant and kirana ecosystem would enable us to provide small companies in India with a unique value proposition.

With the purchase of Metro India, Reliance Retail will broaden its reach throughout the nation to serve all segments of Indian society, including households, kiranas and merchants, HoReCa (hotels, restaurants, and catering), small and medium-sized businesses, and institutions. The Indian-based retailer also plans to become the partner of choice and create win-win scenarios for manufacturers, brand companies, and international suppliers.

In the same press statement, Metro AG CEO Dr. Steffen Greubel added, “With Metro India, we are offering a lucrative and expanding wholesale operation in a rapidly changing market. We are confident that in Reliance, we have found a reliable business partner that is prepared to steer Metro India into the future in this competitive market.”

“This will help both our customers and our staff, whose commitment and performance we are very appreciative of, on the one hand, and on the other hand, it will allow Metro to focus on driving growth in the remaining country portfolio,” Greubel continued.

Related

Previous Post

The UK trade panel suggests lowering the threshold for Indian stainless steel

Next Post

Flipkart and Phonepe separation and their different future plans

moneynotsleep

moneynotsleep

Next Post
Flipkart and Phonepe separation

Flipkart and Phonepe separation and their different future plans

Stay Connected test

  • 23.7k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
Stock market loopholes in India

8 Major Stock Market Loopholes In India

December 3, 2022
New York Stock Exchange (NYSE), USA

Top 10 biggest stock exchanges in the world 2022

November 26, 2022
Top Stock Market Investors In India 2022 And Their Portfolios

Top Stock Market Investors In India 2022 And Their Portfolios

December 1, 2022
stocks for swing trading

How To Select Stocks For Swing Trading

November 30, 2022
New York Stock Exchange (NYSE), USA

Top 10 biggest stock exchanges in the world 2022

3

Amazon is the latest company to join the wave of layoffs, following Meta and Twitter

2
TATA TECH IPO

Tata Tech IPO Is Coming: First IPO After 18 Years

2
Union Budget 2023

Union Budget 2023: what should you anticipate

2
Adani enterprise share price

Adani enterprise share price falls as it calls off 20000 crores FPO.

February 2, 2023
Harsha Engineers International ltd

Harsha Engineers International ltd IPO stock price and latest news.

February 2, 2023
Union budget of india

Union budget of India 2023- From new income tax slabs to PAN Card, everything you need to know.

February 1, 2023
Economic Survey 2023 Highlights

Economic Survey 2023 Highlights: All you need to know 

January 31, 2023

Recent News

Adani enterprise share price

Adani enterprise share price falls as it calls off 20000 crores FPO.

February 2, 2023
Harsha Engineers International ltd

Harsha Engineers International ltd IPO stock price and latest news.

February 2, 2023
Union budget of india

Union budget of India 2023- From new income tax slabs to PAN Card, everything you need to know.

February 1, 2023
Economic Survey 2023 Highlights

Economic Survey 2023 Highlights: All you need to know 

January 31, 2023
Adani enterprise share price
India Market

Adani enterprise share price falls as it calls off 20000 crores FPO.

by moneynotsleep
February 2, 2023
0

The majority of Adani Enterprise share price fell drastically on the news of the FPO cancellation on Wednesday.

Read more
Harsha Engineers International ltd

Harsha Engineers International ltd IPO stock price and latest news.

February 2, 2023
Union budget of india

Union budget of India 2023- From new income tax slabs to PAN Card, everything you need to know.

February 1, 2023
Economic Survey 2023 Highlights

Economic Survey 2023 Highlights: All you need to know 

January 31, 2023
Adani vs Hindenburg battle continues

Adani vs Hindenburg battle continues as Adani strikes back at Hindenburg.

January 30, 2023
  • About us
  • Apply For Job
  • Contact us
  • Disclaimer
  • Privacy policy

© 2022 Moneynotsleep

No Result
View All Result

© 2022 Moneynotsleep