Swiggy ties up to acquire retail delivery company Link

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Swiggy gave this information in a statement on Thursday. The deal marks Swiggy’s foray into the country’s mass retail market with a technology-driven delivery platform.

Delhi. Online food delivery platform Swiggy has entered into a definitive agreement to acquire Link Logistics Limited. Swiggy, however, did not disclose the value of the deal. Swiggy gave this information in a statement on Thursday. The deal marks Swiggy’s foray into the country’s mass retail market with a technology-driven delivery platform.Swiggy said even after the acquisition, Link will continue to operate as an independent trading company headed by its co-founder and CEO Shekhar Bhende.

LINK helps leading FMCG companies expand in the retail market through a network of approximately 1,00,000 retail stores across eight major cities in the country. Swiggy said, “With this acquisition, it will enter the world’s largest and fastest growing Indian retail food and grocery market. India’s retail food and grocery market is over $570 billion and is expected to grow at eight percent annually.

Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.



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