Meesho will acquire business-to-business (B2B) grocery marketplace Kirana Club for Rs 202 crore in cash, marking the ecommerce company’s push into the kirana and small retailer network beyond its core consumer marketplace.
Meesho’s board approved the acquisition on Friday, according to a stock exchange filing. The company will buy 100% of Singapore-incorporated Kirana Club and 0.41% of Retail Pulse Labs Pvt Ltd, its India-based subsidiary. The remaining 99.59% stake in Retail Pulse Labs will be held indirectly through Kirana Club after the transaction.
