Swiggy Links Up With LYNK For Retail Market Entry

Foodtech giant Swiggy has announced its acquisition of retail distribution company LYNK, marking its entry into India’s massive retail market.

What Happened: On July 13, 2023, Swiggy announced that it has entered into a definitive agreement to acquire LYNK Logistics Limited. LYNK, one of India’s largest tech-driven FMCG retail distribution companies, will continue to operate as an independent business post the acquisition, led by its Co-founder and CEO, Shekhar Bhende, said Swiggy in its blog.

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The acquisition of LYNK enables Swiggy to enter India’s food and grocery retail market, which is amongst the world’s largest and fastest-growing, estimated to be > ₹570 billion in size and expected to grow at 8% year-on-year.

Ramco Cements backed-LYNK works with leading FMCG brands as an authorised distributor, connecting them to retail stores and offering a one-stop solution to achieve their sales and growth goals. Post-acquisition, LYNK will leverage Swiggy’s strength in technology and logistics to rapidly scale its existing platform.

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Hi, I am the Benzinga Newsbot! I wrote the above article, utilizing the sources I hyperlinked above. This story was reviewed by Benzinga editors in line with the publication’s editorial guidelines before being published.

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Posted In: M&ALynkSwiggy