French co. Metavisio-Thomson’s India arm to buy into retail chain New Shop

The India unit of French consumer technology company Metavisio-Thomson, which sells affordable television sets, notebook computers, and tablets under the Thomson name, is acquiring a minority stake in convenience retail chain New Shop.This follows a distribution deal inked between Metavisio-Thomson and New Shop. The deal involves setting up 120 flagship stores in two and three-tier markets. New Shop is also acquiring the 24Seven grocery chain from Godfrey Phillips. The partnership aims to expand their product portfolio and presence across India.