Zomato Hyperpure Acquires Blinkit’s Warehousing, Ancillary Service
- ByStartupStory | August 12, 2022
Zomato Hyperpure Private Limited, the food delivery company’s business-to-business (B2B) restaurant supply division, has completed the purchase of Blinkit‘s warehouse and auxiliary services firm Hands On Trades Private Limited (HOTPL).
Zomato paid around $8 million in cash for the auxiliary service. The firm stated in a statement to shareholders on June 24 that it has not bought the B2B trading business under HOTPL because it no longer fits strategically with its ambitions. “Our existing Rs 222.8 crore investment in HOTPL is safeguarded by our liquidation preference right,” the company stated.
Zomato informed the BSE on Thursday that the acquisition of the ancillary company, as well as Blinkit (previously Grofers), was complete. Zomato paid Rs 4,447 crore for Blinkit in an all-stock transaction. On July 27, about 97% of shareholders decided in favor of the acquisition.
“Furthermore, the business has finalized the acquisition of BCPL’s whole ownership from its stockholders.” As a result, BCPL became the company’s wholly owned subsidiary with immediate effect, on August 10, 2022. “This is to further advise the exchange that Zomato Hyperpure Private Limited, a substantial subsidiary of the company, has acquired Hands On Trades Private Limited’s warehouse and associated services business,” Zomato noted in a filing on Thursday.
Zomato intends to integrate Blinkit on numerous fronts following the acquisition, beginning with customers and delivery fleets. It may also think about integrating Blinkit into the Zomato app.
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