Tata Digital acquires majority stake in BigBasket

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Tata Digital Ltd, a 100% subsidiary of Tata Sons has acquired a majority stake in Supermarket Grocery Supplies Private aka Basket.

Big Basket is India’s largest e-commerce player in the food & grocery segment. The deal is completed for an unspecified amount, the company said in a statement.

BigBasket was founded in 2011 in Bengaluru and has expanded its presence to over 25 cities across India since then.

In the e-grocery space, BigBasket provides one of the largest assortments (over 50,000 SKUs) and provides customers the convenience of home deliveries on preferred dates and timeslots.

It also operates a farm-to-fork supply chain with over [12,000] farmers and several collection centers across India to deliver high-quality & fresh fruits and vegetables to its customers.

Pratik Pal, CEO of Tata Digital said,

“Grocery is one of the largest components of an individual’s consumption basket in India, and Bigbasket is India’s largest e-grocery player, fits in perfectly with our vision of creating a large consumer digital ecosystem. We are delighted to welcome Bigbasket as a part of Tata Digital. ”

Hari Menon, CEO of Bigbasket, said, “As a part of the Tata Ecosystem we would be able to build stronger consumer connect and accelerate our journey.”

Tata Group said it is building a digital consumer ecosystem addressing consumer needs across categories in a unified manner and online food & grocery is an important part of this ecosystem.

“Accordingly, this acquisition presents an attractive opportunity for Tata Group in its overall vision of creating a digital ecosystem,” Tata Digital said.

Disclaimer: This post has not been edited by our staff and is published from a syndicated feed. The Original Source of this post can be found at Source link


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