KOLKATA/MUMBAI: RP-Sanjiv Goenka Group’s retail arm Spencer’s Retail has received food and grocery retail chain Nature’s Basket from Godrej Group in an all-cash deal of Rs 300 crore. This will give Spencer’s an all-India footprint as the Godrej retail firm has a robust presence in Mumbai and Pune. As of now, the RP Sanjiv Goenka Group outfit has no footprint in the ones two towns. Nature’s Basket is a wholly owned subsidiary of Godrej Industries.
Operating since 2005, Nature’s Basket is a neighbourhood convenience retailer format grocery retailer that sells merchandise like contemporary end result & vegetables, fish, meat, artisanal breads, FMCG and staples. It posted a turnover of Rs 338 crore in 2018-19 and has 36 stores in Mumbai, Pune and Bengaluru.
Spencer’s Retail is a multiformat retailer offering a variety of merchandise across classes similar to food, personal care, style, home essentials, electric & electronics, gourmand, wine and liquor. Around 36% of earnings of Spencer’s comes from non-foods businesses.
Lodha Capital Markets was once the adviser for the deal.
RP-Sanjiv Goenka Group sector head (retail & FMCG) Shashwat Goenka mentioned Nature’s Baseket can be a subsidiary of Spencer’s. Although Nature’s Basket was once making losses, Shashwat was once assured of a turnaround. Meanwhile, Spencer’s Retail has posted a Rs 2.8-crore web profit in the fourth quarter of 2018-19 compared to a loss of Rs 6.5 crore in the corresponding quarter of 2017-18.
Operating since 2005, Nature’s Basket is a neighbourhood convenience retailer format grocery retailer that sells merchandise like contemporary end result & vegetables, fish, meat, artisanal breads, FMCG and staples. It posted a turnover of Rs 338 crore in 2018-19 and has 36 stores in Mumbai, Pune and Bengaluru.
Spencer’s Retail is a multiformat retailer offering a variety of merchandise across classes similar to food, personal care, style, home essentials, electric & electronics, gourmand, wine and liquor. Around 36% of earnings of Spencer’s comes from non-foods businesses.
Lodha Capital Markets was once the adviser for the deal.
RP-Sanjiv Goenka Group sector head (retail & FMCG) Shashwat Goenka mentioned Nature’s Baseket can be a subsidiary of Spencer’s. Although Nature’s Basket was once making losses, Shashwat was once assured of a turnaround. Meanwhile, Spencer’s Retail has posted a Rs 2.8-crore web profit in the fourth quarter of 2018-19 compared to a loss of Rs 6.5 crore in the corresponding quarter of 2017-18.
Spencer's Retail to acquire Nature's Basket
![Spencer's Retail to acquire Nature's Basket]()
Reviewed by Kailash
on
May 19, 2019
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