E-commerce platform Meesho will acquire B2B grocery marketplace Kirana Club for Rs 202 crore in an all-cash deal. The acquisition aims to expand Meesho's reach within India's network of small retailers and grocery ecosystem.
The acquisition signifies Meesho's strategic move to bolster its presence in India's vast and fragmented retail network, particularly the crucial kirana and small grocery store segment, potentially reshaping competition in the B2B e-commerce space.
E-commerce platform Meesho is set to acquire B2B grocery marketplace Kirana Club for Rs 202 crore in an all-cash deal. The acquisition is intended to deepen Meesho's engagement with India's extensive network of small retailers and enhance its presence in the grocery ecosystem.
The deal, cleared by Meesho's board, involves acquiring 100% of Kirana Club's Singapore-incorporated entity and a direct 0.41% stake in its Indian subsidiary, Retail Pulse Labs. Meesho will hold the remaining 99.59% of Retail Pulse Labs indirectly through Kirana Club.
Completion of the transaction is scheduled in three tranches by March 31, 2027, and does not require regulatory approvals. Meesho CEO Vidit Aatrey highlighted that the acquisition will extend the company's commerce offerings beyond consumers to small retailers, a vital component of India's grocery sector.