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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