MUMBAI, May 18 -- RP Sanjiv Goenka Group-owned Spencer's Retail Ltd is set to acquire gourmet retail chain Nature's Basket Ltd for Rs300 crore, as it seeks to expand its footprint in the Western region, the company's filings with the BSE show. The acquisition is subject to shareholders' approval.
The deal will give Spencer's access to 36 Nature's Basket stores in prime locations of Mumbai, Pune and Bengaluru. The Kolkata-based retail chain will also get access to Nature's Basket's online platform.
On Friday, Spencer's Retail shares rose 2% to 132.70 on BSE, while Godrej Industries Ltd, which owns Nature's Basket, closed at Rs449.70, up 2.34% from the previous day's close.
"The board meeting held earlier today has approved a proposal for ...