Grocery retailer Godrej Nature’s Basket has acquired online grocer Ekstop at a deal value of Rs 30-40 crore, with Nature’s Basket taking on debt of Rs10-15 crore on the books of Ekstop. As a part of the deal, the management of Ekstop will remain on board with Godrej Nature’s Basket and by 15 March the new online platform will be launched.
Negotiations on the deal were completed in January and Godrej Nature’s Basket is working on how to rebrand and integrate Ekstop.com to serve as its online platform, the people familiar with the deal told LiveMint.
Ekstop.com which operates in Mumbai, Navi Mumbai and Thane, has posted a message on its website, “We are upgrading our infrastructure and bringing thousands of more products, faster same-day delivery and other exciting services and updates that will amaze our customers. We will be in several more cities this upcoming year of 2015. Ekstop will be ready to serve the customers in an all new upgraded form shortly. Meanwhile, we sincerely apologize for any disruption in service over the next few days.”
Godrej Nature’s Basket started retailing through its website two years ago. The brand also offers same day delivery in Mumbai, Delhi, NCR (National Capital Region), Pune, Hyderabad and Bengaluru with 32 stores. Nature’s Basket offers a range of products in the country including fresh fruits & vegetables, international cheese and cold cuts, bakery products, ice creams, desserts, fresh made-to-order party snacks, patisserie, frozen veg and non-veg ready to cook/ serve range etc.
In January this year, Grocery retailer Godrej Nature’s Basket had gotten into a partnership with Snapdeal, to list its range online on the marketplace platform.