Tata Digital, a subsidiary of Tata Sons, has confirmed that is has acquired a majority stake in Supermarket Grocery Supplies (bigbasket).
Bigbasket was founded in 2011 in Bengaluru. It has since expanded its presence to more than 25 cities across India.
According to reports, Tata Digital has acquired 64.3 percent of Supermarket Grocery Supplies, for a total of US$ 1.2 billion.
Pratik Pal, CEO, Tata Digital, said, “Grocery is one of the largest components of an individual’s consumption basket in India, and 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 Tata Digital.”
Hari Menon, CEO, 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.”
