Tata Digital Limited takes majority stake in BigBasket
Tata Digital Limited, a fully-owned subsidiary of Tata Sons, has acquired a majority stake in Supermarket Grocery Supplies Private Limited (BigBasket), an Indian online grocery store company, for an undisclosed price.
Hari Menon – CEO of BigBasket said: “We are extremely excited about our future as a part of Tata group. As a part of the Tata ecosystem, we would be able to build stronger consumer connect and accelerate our journey.”
Established in 2011 in Bangalore, BigBasket operates across more than 25 cities.
In the e-grocery area, BigBasket is said to offer over 50,000 stock keeping units (SKUs) and provides home deliveries to customers on preferred dates and time slots.
The online grocery store company also runs a farm-to-fork supply chain with more than 12,000 farmers and various collection centers across India to provide fresh fruits and vegetables to its customers.
The Tata group is said to be developing a digital consumer ecosystem to address consumer requirements across categories in a unified manner. The conglomerate considers online food and grocery as a major part of the ecosystem.
The acquisition of a majority stake in BigBasket is said to provide the Tata group an attractive opportunity in its overall vision of building a digital ecosystem.
Pratik Pal – CEO of Tata Digital said: “Grocery is one of the largest components of an individual’s consumption basket in India, and BigBasket is India’s largest e-grocery player, fits in perfectly with our vision of creating a large consumer digital ecosystem. We are delighted to welcome BigBasket as a part of the Tata Digital.”