Reliance Retail acquires 100% stake in Metro India for Rs2,850 crore

22 Dec 2022 , 09:26 AM

Reliance Industries Limited announced that its subsidiary has signed a definitive agreement to acquire a 100% equity stake in METRO Cash & Carry India Pvt Ltd. (METRO India).

The cash consideration for the transaction has been fixed at Rs 2,850 crore, subject to closing adjustments.

METRO India commenced operations in India in 2003 as the first company to introduce the cash-and-carry business format in the country, and it now operates 31 large format stores across 21 cities, employing approximately 3,500 people.

Through its store network and eB2B app, the multi-channel B2B cash & carry wholesaler has access to over 3 million B2B customers in India, 1 million of whom are frequent buyers.

METRO India has gained the confidence of kiranas, as well as other small businesses and merchants. METRO India generated sales of Rs 7,700 crore (€ 926 million) in the fiscal year 2021/22 (FY ended September 2022), its best sales performance since its market entry into India.

Reliance Retail gains access to a large network of METRO India stores in prime locations across key cities, a large base of registered kiranas and other institutional customers, a strong supplier network, and some of the global best practices implemented by METRO in India as a result of this acquisition.

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