Amazon, Samara Capital Acquire Aditya Birla Group’s ‘More’
In the era of growing acquisitions, retail giant Amazon and home-grown equity fund Samara Capital have entered into a deal to acquire Aditya Birla Group's food and grocery retail chain known as ‘More’.
After Future Group's Big Bazaar, Reliance Retail and DMart, More is the fourth-largest supermarket chain in the country. The two companies acquired the retail chain in a deal worth the enterprise valuation of Rs 4,200 crore.
Aditya Birla Retail Ltd (ABRL) owns and operates 575 More stores. Following the acquisition, Samara Capital took over 51% of Kumar Mangalam Birla's ABRL, on the other hand, Amazon.com NV Investment Holdings LLC, Amazon's investment arm got hold of the rest 49%.
“The board of directors of the company, at its meeting held on September 19, 2018, has approved the sale...