1. Home >
  2. Export Import News >
  3. Business News >
  4. Spencer’s buys Nature’s basket, eyes expansion in western India >
  5. Spencer’s buys Nature’s basket, eyes expansion in western India

Online Export Import Data Search

Complete Training Video : Click Here

Spencer’s buys Nature’s basket, eyes expansion in western India.

Date: 18-05-2019
Subject: Spencer’s buys Nature’s basket, eyes expansion in western India
RP Sanjiv Goenka Group-owned Spencer’s Retail announced on Friday that it is set to acquire 100% stake in Nature’s Basket, a wholly-owned subsidiary of Godrej Industries for a cash consideration of Rs 300 crore.

Nature’s Basket (NBL), a neighbourhood convenience store format grocery retailer that has been operating since 2005, sells products ranging from fresh fruits, vegetables, fish, meat, artisanal breads, FMCG and staples.

The NBL acquisition will give Spencer’s Retail access to the western parts of India through its 36 stores in locations like Mumbai, Pune and Bengaluru.

Spencer’s Retail itself is a multi-format retailer providing a wide range of quality products across categories such as food, personal care, fashion, home essentials, electrical and electronics to its key consumers.

Specialty sections such as Spencer’s gourmet, patisserie, wine and liquor, and the recently launched Epicuisine section are some of the key differentiators in its hypermarket stores.

Shashwat Goenka, sector head – retail and FMCG, RP Sanjiv Goenka Group, said Nature’s Basket will make Spencer’s a truly national player. “These stores are located in prime residential locations, have a high sales throughput per square feet, and will add Rs363 crore of top line to the Spencer‘s portfolio,” he said.

Goenka also pointed out that both Spencer’s and Nature’s Basket are positioned as experiential grocery retailers, and that is the first of many synergies that this acquisition brings. “Nature’s Basket has a strong portfolio of private label brands which has huge traction with its consumers. We believe there is huge potential to expand this to Spencer’s stores. It also has a strong e-commerce presence, and we believe that fits in well with our Omni channel strategy at Spencer’s,” he said.

For the financial year 2019, NBL has a turnover of Rs338.28 crore, that witnessed a 17% rise compared to the previous year.

Tanya Dubash, executive director and chief brand officer at Godrej Group, said the retail industry is consolidating and to flourish in this environment, scale has become increasingly important.

“Looking forward, we realised that to further unlock the immense potential of this brand and to grow it to even greater heights, we need to pass on the torch to owners who have prioritised retail in their portfolio strategy and have the relevant ecosystems to take the business to the next level. Spencer’s Retail is very keen to further strengthen the brand and strongly accelerate the growth of the business,” she said.

Source: financialexpress.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 19-09-2019

Date: 17-09-2019
Notification No. 30/2019-Customs
Seeks to amend notification No. 50/2017-Customs dated 30.06.2017 to reduce basic customs duty on Open cell (15.6” and above) for use in the manufacture of Liquid Crystal Display (LCD) and Light Emitting Diode (LED) TV panels and certain goods for use in the manufacture of Open cell of Liquid Crystal Display (LCD) and Light Emitting Diode (LED) TV panels.

Date: 14-09-2019
NOTIFICATION No. 37/2019-Customs (ADD)
Seeks to impose the definitive anti-dumping duty on the imports of "Electrical Insulators" originating in, or/and exported from China PR.

Date: 14-09-2019
NOTIFICATION No. 36/2019-Customs (ADD)
Seeks to rescind notification No. 11/2015-Customs (ADD) dated 11th April, 2015.

Date: 13-09-2019
Notification No. 64/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg

Date: 13-09-2019
Public Notice No. 33/2015-2020
Annexure I to Appendix 2A revised.

Date: 13-09-2019
PUBLIC NOTICE NO. 32/2015-2020
Enlistment under Appendix 2E of M/s Expo Overseas Entrepreneurs Association (EOEA) Indore Madhya Pradesh- Authorized to issue Certificate of Origin (Non-Preferential)- reg.

Date: 13-09-2019
Notification No. 65/ 2019-Customs (N.T.)
Amending Notification No. 12/97-CUSTOMS (N.T.), dated the 2nd April, 1997 so as to include Barhi, Distt Sonepat, Haryana

Date: 13-09-2019
Circular No. 31/2019-Customs
Revised Norms for Execution of Bank Guarantee under Advance Authorisation, DFIA and EPCG Schemes

Date: 12-09-2019
Notification No. 43/2019-Customs (N.T./CAA/DRI)
Appointment of CAA by DGRI -reg.

Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001