Jobaaj Stories
Almost three months after the announcement, the Competition Commission of India approved the acquisition of Metro Cash & Carry India by Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries.
Metro Cash and Carry is an international wholesale and food retail specialist that operates in 34 countries. It provides customised solutions to meet the requirements of its wholesale and retail customers.
Its Indian arm began operations in 2003 and operates 31 distribution centres all over India. The German company's Indian operations were set to be fully acquired by Reliance Retail in December 2022 for a consideration of Rs 2,850 crores.
However, the same was pending approval from the CCI. With the permission provided, Reliance Retail will be taking over all 31 stores of the wholesale chain and expanding its already vast footprint in the retail market.
Moreover, Reliance Retail, which has launched its brand called 'Independent' and relaunched the iconic 'Campa Cola' brand, will be able to utilise the extensive network of the brand as well as its customers, which will enable the company to improve its standing in the retail, HoReCa and several other segments.
RRVL is an unlisted company whose IPO is expected to be launched in the next 12-18 months.
- Aman Agarwal
