Online Export Import Data Search

Recent Searches: No Recent Searches
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: 27-11-2020
Notification No. 109/2020-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: 27-11-2020
Circular No. 52/2020-Customs
Exports of Gems and Jewellery through Courier mode - reg.

Date: 27-11-2020
Notification No. 40/2020-Customs (ADD)
Seeks to impose Anti-Dumping duty on Fluoroelastomers (FKM) originating in or exported from China PR for a period of 5 years, in pursuance of sunset review final findings issued by DGTR

Date: 26-11-2020
Notification No. 43/2020-Customs
Seeks to further amend notification No. 50/2017-Customs dated 30th June, 2017 so as to prescribe BCD rate of 27.5% on Crude Palm Oil

Date: 26-11-2020
Notification No. 39/2020-Customs (ADD)
Seeks to amend notification No. 51/2015-Customs (ADD), dated 21st October, 2015 to extend the levy of ADD on imports of "Fully Drawn or Fully Oriented Yarn/Spin Drawn Yarn/Flat Yarn of Polyester " originating in or exported from China PR & Thailand , for a further period upto and inclusive of 31st December, 2020

Date: 26-11-2020
Public Notice No. 30/2015-20
Revision of SION A1827 of Export Products - Ossein

Date: 23-11-2020
A.P. (DIR Series) Circular No. 07
Establishment of Branch Office (BO) / Liaison Office (LO) / Project Office (PO) or any other place of business in India by foreign law firms

Date: 20-11-2020
Circular No.51/2020-Customs
Clarifications regarding availment of exemption on temporary import of durable Containers - reg.

Date: 19-11-2020
Notification No. 60/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 19-11-2020
Notification No. 61/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Exim Guru Copyright © 1999-2020 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 InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001