Swiggy to acquire LYNK Logistics in strategic move into FMCG retail distribution

Swiggy, India’s top on-demand convenience platform, revealed today its plans to acquire LYNK Logistics Limited, one of the country’s most prominent tech-driven FMCG retail distribution companies.

As part of the agreement, LYNK Logistics will continue to function independently under the leadership of Co-founder and CEO, Shekhar Bhende.

LYNK Logistics, founded by Abinav Raja and Shekhar Bhende in 2015, boasts an expansive network of over 100,000 retail stores in India’s top eight cities. The company, which has witnessed a 2.5x year-on-year growth with improved profitability, aids leading FMCG brands in extending their retail footprint. Its integrated technology platform is key to managing the retail distribution value chain, encompassing warehousing, inventory management, and logistics operations.

The acquisition marks Swiggy’s entry into the Indian food and grocery retail market, estimated to be worth more than $570 billion and growing at an 8% rate annually. LYNK Logistics, serving as an authorized distributor for leading FMCG brands, provides a comprehensive solution for achieving their sales and growth objectives. LYNK Logistics’ proprietary technology stack enables quicker order-to-delivery turnaround and enhances on-the-shelf availability for retail stores. Post-acquisition, Swiggy’s technological and logistical strengths will be utilized to amplify LYNK Logistics’ existing platform.

Sriharsha Majety, CEO of Swiggy, shared his excitement over LYNK Logistics’ team joining Swiggy, citing LYNK Logistics’ unique position in the retail distribution sector. On the other hand, Shekhar Bhende, Co-founder of LYNK Logistics, expressed his anticipation for accelerated growth and the opportunity to lead retail distribution digitization in India, facilitated by Swiggy’s support. Avendus was the exclusive financial advisor to LYNK Logistics and its shareholders during this transaction.