PE firms Partners Group, Kedaara Capital acquire Vishal Mega Mart

By

Maverick Martins

Published
May 23, 2018

PE firms Partners Group, Kedaara Capital is expected to spend around Rs 5000 crore (approx $752 million) for the acquisition of retail chain Vishal Mega Mart (VMM) from another PE firm, TPG Capital and Shriram Group.
 

The funds will be used by VMM for its next phase of growth as it looks to expand its presence across India and also diversify its product portfolio. The deal is expected to be sealed later this year post the completion of all regulatory approvals.
 
Partners Group Private Equity Asia Managing Director Manas Tandon was quoted by PTI as saying: “We believe the company offers a unique value proposition to an underserved customer segment and will continue to have strong tailwinds for a long time.”

“The value creation initiatives will focus on further expanding VMMs presence, adding to its product assortment and maximizing supply chain efficiency. The transaction is subject to regulatory approval and is expected to close later this year,” Partners Group said.
 
VMM MD and CEO Gunender Kapur added, “We believe we have found the ideal partners for this ambitious next phase (of growth) in Partners Group and Kedaara Capital and expect to benefit from their combined track records of working with fast-growing consumer businesses.”
 
Vishal Mega Mart is India’s leading retail chain, which sells value clothing among other items, and currently has over 229 stores in 110 cities and towns across the country.