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The Competition Commission of India (CCI) has approved Mukesh Ambani-owned Reliance Retail Ventures’ acquisition of METRO Cash & Carry India, which is a wholly-owned subsidiary of German international wholesaler METRO AG, in a deal worth ₹2,850 crore.
“Commission approves acquisition of METRO Cash and Carry India Private Ltd by Reliance Retail Ventures Limited (RRVL)”, the CCI tweeted on Tuesday evening.
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This acquisition— announced in December 2022– will give RRVL access to METRO India’s wide network of 31 large format stores across 21 cities, a large base of registered kiranas and other institutional customers, strong supplier network and some of the global best practices implemented by METRO in India.
The multi-channel B2B cash & carry wholesaler has reach to over 3 million B2B customers in India, of which 1 million are frequently buying customers, through its store network and eB2B app.
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