B2B Ecommerce Unicorn Udaan Joins The Race To Acquire Metro Cash & Carry
Metro Cash & Carry has 31 stores in India and has approached close to 10 companies to acquire its India operations for a price between $1.5 Bn to $1.7 Bn
It is still unclear if Metro AG will keep a minority stake in the operations, which will be decided based on the new owner’s needs
What Metro does offline, Udaan nearly replicates within its online business model
B2B ecommerce unicorn Udaan has reportedly expressed interest in buying Metro AG’s India wholesale unit. With this, the startup joins the likes of deep-pocketed suitors such as Tata, Amazon, DMart and Reliance. Thailand’s Charoen Pokphand Group and foodtech giant Swiggy too are keen to get the loss-ridden Metro Cash & Carry business.
As per reports, Metro Cash & Carry has 31 stores in India and has approached close to 10 companies to acquire its India operations for a price between $1.5 Bn to $1.7 Bn. It is expected to sell the India unit by the end of September 2022.
According to RoC filings, Metro Cash & Carry posted a loss of INR 23.33 Cr, against a turnover of INR 6,915.3 in FY20. In FY19, it posted a top line of INR 6,553 Cr and a profit for the first time (since it began operations in 2003) of INR 217.4 Cr.
Financial details for FY21 and FY22 are still not available.
But since it has consistently had poor financial performance, Metro AG decided to sell its Indian business Metro Cash & Carry. While several top businesses have bid their own numbers for the German-headquartered company, the final decision on who wins the bid to take control of the company’s operations in India will be taken in Germany. It is also still unclear if Metro AG will keep a minority stake in the operations, which will be decided based on the […]
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