Sanjiv Goenka (owner of Pune IPL Team) led Spencer has acquired Gurgaon-based Online Grocery Platform MeraGrocer.com
Spencer’s Retail has forayed into online space with the acquisition of 100 per cent stake in meragrocer.com at an undisclosed sum to grab 10 per cent of revenue in 4-5 years.The deal is a mixture of debt and equity.
This acquisition makes meragrocer.com a subsidiary of Spencer’s, and will form the starting point of Spencer’s online retail business, Spencer’s said in a statement.
“With the acquisition we will be able to enter the online channel for Spencer’s soon. However, this does not stop us from tying with other hyper local delivery startups”, sector head Shashwat Goenka said.
“Currently we will be in Gurgaon and Delhi as the acquired company is present in these markets. By April-June quarter of 2016, we will launch the service in Kolkata”, he said.
Spencer’s, he said, is workin...