Zomato Hyperpure Private Limited, the business-to-business (B2B) restaurant supply business of the food delivery company, has completed the acquisition of Blinkit’s warehousing and ancillary services business Hands On Trades Private Limited (HOTPL).
acquired the ancillary service for about $8 million in cash. It has not acquired the B2B trading business under HOTPL as it no longer fits strategically with its plans, the company said in a letter to shareholders on June 24. “Our existing Rs 222.8 crore investment in HOTPL is protected through our liquidation preference right,” it said.
“Further, the company has completed acquisition of 100% shareholding of BCPL from its shareholders. Accordingly, BCPL became a wholly owned subsidiary of the company with immediate effect i.e. from August 10, 2022. This is to further inform the exchange that Zomato Hyperpure Private Limited, a material subsidiary of the company, has acquired the warehousing and ancillary services business of Hands On Trades Private Limited,” Zomato wrote in its filing on Thursday.
After the acquisition, Zomato plans to start integrating Blinkit on multiple fronts, starting with customers and delivery fleets. It may also consider moving Blinkit to the Zomato app.
Categories: Corporate M&A