PE Fund Investments
Reliance Retail acquires Metro Cash & Carry for Rs.2,850-Cr
Mumbai-based Reliance Retail Ventures Ltd (RRVL), a subsidiary of publicly listed Reliance Industries Ltd, is to acquire 100% equity stake in Bangalore-based Metro Cash & Carry India Pvt Ltd for a total cash consideration of INR 2,850 crore. Metro India, a wholly owned subsidiary of Germany's Metro AG, has been operating cash and carry stores for over 19 years in India focusing on the B2B segment. It currently runs 31 large format stores across 21 cities with about 3,500 employees. In the financial year ended September 2022, Metro India had generated sales of INR 7,700 crore (926 million euros). Besides the store-network, the acquisition provides Reliance Retail access to a large base of registered kiranas and other institutional customers and supplier network.
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