New Delhi: Tata Digital Ltd on Friday acquired a majority stake in BigBasket, which is the best online grocery store in India for daily needs of the people.
Tata Digital CEO Pratik Pal said “grocery is one of the largest components of an individual’s consumption basket in India”, adding “Bigbasket as 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,” he said in a statement.
Hari Menon, the CEO of Bigbasket – which has expanded its presence to over 25 cities after being founded in 2011 in Bengaluru – too expressed his delight with this new agreement.
“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,” PTI quoted Menon as saying.
Stating this acquisition presents an attractive opportunity for the company in its overall vision of creating a digital ecosystem, Tata Group in a statement said it is building a digital consumer ecosystem addressing the needs of consumers in a unified manner, adding online food and grocery is an important part of this ecosystem.
The deal assumes significance as e-grocery growth in in the country is gradually increasing amid lockdowns and curfew courtesy the second wave of the Covid-19 pandemic.