Spencers Retail’s board has approved a proposal for acquisition of entire 100% stake held by Godrej Industries in its wholly owned subsidiary Natures Basket (NBL). Acquisition of NBL will make Spencer's a national player giving it access to the western parts of India through its 36 stores in prime locations in Mumbai, Pune and Bangalore. This acquisition will bring in many synergies in Spencer’s business and fits in well with Spencer’s omnichannel strategy. The Board of directors of the company at its meeting held on May 17, 2019 has approved for the same.
Spencers Retail is a multi-format food-first retailer providing a wide range of quality products to discerning young customers - well-travelled citizens of the world, looking out for authentic flavors and experiences in a fun-filled shopping environment.
