Flipkart to Launch 5 Fulfillment Centres for Grocery Business
Flipkart to Launch 5 Fulfillment Centres for Grocery Business

Flipkart is looking at strengthening its grocery supply chain infrastructure across India by opening five new fulfillment centres over the next three months.

With the addition of over 800,000 sq ft of space through these fulfillment centres, the e-commerce firm will be bringing ease of online grocery shopping to more users across the country.

Flipkart Grocery provides more than 7,000 products across 200 categories, ranging from daily household supplies, staples, snacks, and beverages, to confectionery, and personal care.

Flipkart’s present grocery fulfillment centre network is spread across Delhi, Mumbai, Bengaluru, Chennai, and Hyderabad, among other cities. These centres serve close to 64,000 daily orders.

Flipkart Eyes to Launch 5 Fulfillment Centres for Grocery Business

Smrithi Ravichandran, Vice-President (Grocery), Flipkart, said, “During these challenging times, e-commerce has emerged as a safe means for making purchases. Customer safety is at the centre of Flipkart group’s efforts and our new grocery supply chain infrastructure will help us serve more customers in the country who can order daily essentials seamlessly and avail of contactless delivery. We are also continuously engaging with brand and marketplace partners to ensure stock availability across the country.”

In April, Flipkart also expanded its hyperlocal service ‘Flipkart Quick’ to six new cities, including Delhi, Gurugram, Ghaziabad, Noida, Hyderabad, and Pune, to provide consumers access to order daily essentials like fruits and vegetables and to enable 90-minute delivery.

 
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Retail India News: Convergent Finance and Samara Capital to Acquire Majority Stake in Agro Tech Foods Limited
Retail India News: Convergent Finance and Samara Capital to Acquire Majority Stake in Agro Tech Foods Limited
 

Convergent Finance LLP and Samara Capital have jointly declared the finalization of definitive documents for acquiring a 51.8 percent stake in Agro Tech Foods Limited (ATFL) from a subsidiary of Conagra Brands, Inc. ATFL, a listed company on the Bombay Stock Exchange and the National Stock Exchange, will undergo a mandatory open offer for an additional 26.0 percent of outstanding shares due to this acquisition. The deal is pending customary regulatory approvals and is anticipated to be completed in due course.

Conagra has been a controlling shareholder of ATFL since 2011, and during its tenure, ATFL expanded its food portfolio, featuring renowned brands like ACT II popcorn and Sundrop edible oils. Both brands are leaders in their categories, catering to both in-home and out-of-home consumption. ATFL will retain the license for the ACT II brand from Conagra for use in India.

Harsha Raghavan, Managing Partner at Convergent Finance said, “Agro Tech Foods’ category-defining brands have been beloved household names for the past three decades, thanks to the company’s relentless focus on quality, innovation, and customer delight. As India’s rapidly-growing consumer class expands and discretionary income levels continue to rise, we will expand ATFL’s distribution reach and product range, thereby transforming it into the country’s leading packaged and snack food platform.

Manish Mehta, Managing Director and Co-Chief Investment Officer at Samara Capital said, “We are delighted to lead the acquisition of a majority stake in ATFL in partnership with Convergent. The company’s brands have high recall value with India’s consumers, and we aim to complement this hard-earned recognition with our knowledge of India’s food and consumer sectors to increase ATFL’s presence in fast-growing, high-margin categories. We intend to create a large and unique branded food platform in the country with this acquisition.

Convergent Finance LLP, known for its investment management and advisory role, follows a value investing approach, emphasizing fair valuations through negotiated transactions. Samara Capital, founded in 2007, is a mid-market private equity firm in India with a focus on creating long-term value in partnership with entrepreneurs. Consumer and Retail form a significant focus area for Samara.

Conagra Brands, Inc, headquartered in Chicago, is a leading North American branded food company with a portfolio of iconic brands, including ACT II, Birds Eye, Duncan Hines, Healthy Choice, and Marie Callender’s, among others. The company is driven by a commitment to innovation and evolving to meet changing food preferences.

 

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