Mumbai, May 28: Tata Sons' subsidiary Tata Digital on Friday said it has acquired a majority stake in supermarket grocery supplies private limited, the company which is better known as BigBasket.
According to the company, E-grocery has been one of the fastest growing segments in the consumer e-commerce space and its growth is propelled with India's rising consumption and digital penetration. TCS Named Best Big Company to Work for in the UK
"The current pandemic has further accelerated its adoption as consumers seek the convenience of ordering quality groceries delivered safely at home."
In the e-grocery space, BigBasket provides one of the largest assortments with the convenience of home deliveries on preferred dates and timeslots.
Besides, it operates a farm-to-fork supply chain with over 12,000 farmers and several collection centers across India.
"Grocery is one of the largest components of an individual's consumption basket in India, and BigBasket as India's largest e-grocery player, fits in perfectly with our vision of creating a large consumer digital ecosystem," Pratik Pal, CEO of Tata Digital was quoted as saying in a company statement.
At present, Tata Group is building a digital consumer ecosystem addressing consumer needs across categories in a unified manner.
"Accordingly, this acquisition presents an attractive opportunity for Tata Group in its overall vision of creating a digital ecosystem."
BigBasket was founded in 2011 in Bengaluru and has expanded its presence to more than 25 cities across India since then.
(The above story first appeared on LatestLY on May 28, 2021 04:31 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).