Spencers Retail Limited, part of the RP Sanjiv Goenka Groups retail flagship, is set to acquire 100% in Natures Basket Limited from its parent company, Godrej Industries Limited for 300 crores in an all-cash deal.
This deal will give Spencers access to 36 Natures Basket stores in prime locations of Mumbai, Pune and Bangalore as well as its online platforms, reported Mint.
Khaitan & Co. acted for Spencers Retail Limited, led by partners Ashraya Rao and Surbhi Kejriwal and senior associate Ayush Nanda.
The Godrej in house legal team, led by Shrenik Jain and Pankaj Phadnis was supported by Trilegal, led by Partner Kunal Chandra and Senior Associate Akshat Shrivastava of Trilegal.
In a press release, Godrej Group Executive Director, Tanya Dubash said that to further unlock the immense potential of the Natures Basket brand and to reach greater heights, the group decided to pass on the torch to owners who have prioritised retail in their portfolio strategy and have the relevant ecosystems to take the business to the next level.
