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Woolworths India bought by Infiniti Retail for Rs. 200 cr

Infiniti Retail Ltd had recently acquired the Indian business of Australia’s supermarket Woolworths. This acquisition was priced at about Rs 220 crore. This happened as the latter company decided to exit the consumer electronics segment in Australia and India in order to focus on their core business.

Woolworths Logo

Woolworths Logo

The company that was bought is famous for its business when it comes to supermarkets, department stores, liquor outlets, hotels and home improvement stores. Their biggest markets are on Australia and New Zealand. In a statement given by Ajit Joshi, Managing Director of Infiniti Retail, the acquisition was done in order to help the company cut cost as both the business will be merged into one entity.

Chroma Infiniti Logo

Chroma Infiniti Logo

This would make handling the business easier and more accurate. Moreover, the managing director is also proud to say that the company is able to have a steady growth of 40 per cent annually. This just shows that the company is doing quite well in their business.

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