Spencer’s Retails’ $43 Million Acquisition of Stake in Nature’s Basket

Khaitan & Co advised Spencer’s Retail Limited on the deal

Spencer’s Retail executed the acquisition of Grodrej group’s premium food retailing venture, Natures Basket, for $43 million in an all-cash deal.

Nature’s Basket operates 36 stores in Mumbai, Pune and Bengaluru. Nature’s Basket is a wholly-owned subsidiary of Godrej Industries.

Spencer’s Retail Limited operates as a supermarket. The Company retails consumer goods such as food, beverages, sauces, breads, cookies, vegetable, fruit, dishwashing soaps, toilet cleaners, foil wraps, baby needs, kitchen utensils, apparels, footwear, jewellery, and other related accessories. Spencer’s Retail serves customers in India. The comany led by Devendra Chawla and Rama Kant, in 2018 recorded $310 million revenues.

Khaitan & Co advised Spencer’s Retail Limited with a team including

Surbhi Kejriwal (Picture), Ashraya Rao and Ayush Nanda (M&A), Shailendra Bhandare and Sourav Dan (IP&IT), Anshul Prakash, Abhisek Choudhury and Deeksha Malik (Employment), Pranav Sethi and Shivangi Agarwalla (Diligence).

Involved fees earner: Shailendra Bhandare – Khaitan & Co.; Surbhi Kejriwal – Khaitan & Co.; Anshul Prakash – Khaitan & Co.; Ashraya Rao – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Spencer’s Retail Limited;