Star Localmart Expands with DusMinute Acquisition
Star Localmart, part of Sanjay Ghodawat Group, has acquired DusMinute, a Bengaluru-based retail chain. This strategic purchase aims to enhance Star Localmart's presence to 170 stores, establishing it as the leading regional retail player in Karnataka. The company targets expansion and increased revenue through this acquisition.
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In a strategic move, Star Localmart, the retail division of Sanjay Ghodawat Group, announced on Monday that it has acquired the Bengaluru-based retail chain, DusMinute. This acquisition, for an undisclosed amount, is set to extend Star Localmart's reach to 170 stores, making it the largest regional retail player in Karnataka, according to a company statement.
Star Localmart's focus is on expanding its presence in tier II to VI cities. DusMinute, known for its gated community retail model, provides essential everyday goods directly to residents, including groceries, dairy, fruits, vegetables, and household items. The acquisition includes 40 existing DusMinute outlets, with plans for further store openings, as the company looks to strengthen its market presence.
The expansion announcement also revealed that Star Localmart plans to extend its footprint across Maharashtra, Karnataka, Goa, Andhra Pradesh, and Telangana, aiming for a revenue target of Rs 5,000 crore in the next five years. Managing Director Shrenik Ghodawat expressed confidence that integrating DusMinute's hyperlocal platform with Star Localmart's growing network positions them to better serve changing consumer needs and solidify their leadership in the retail sector.
(With inputs from agencies.)
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