M&A Deal Summary

Tata Group Acquires BigBasket

On May 28, 2021, Tata Group acquired e-commerce company BigBasket from Ascent Capital and The Abraaj Group

Acquisition Highlights
  • This is Tata Group’s 1st transaction in the E-Commerce sector.
  • This is Tata Group’s 2nd transaction in India.

M&A Deal Summary
Date 2021-05-28
Target BigBasket
Sector E-Commerce
Buyer(s) Tata Group
Sellers(s) Ascent Capital
The Abraaj Group
Deal Type Add-on Acquisition

Target

BigBasket

Bangalore, India
BigBasket is India's first comprehensive online grocery store. The Company's founding team has deep offline and online retail experience having pioneered e-commerce in India with India's first e-commerce site FabMart.com in 1999, and then setting up and running the Fabmall - Trinethra chain of supermarkets (now called "More"). The Company launched operations in Bangalore in December 2011. BigBasket offers a range of merchandise that can rival that of any physical store. The Company also provides a guarantee for on-time delivery, lowest prices, and great quality. BigBasket was formed in 2011 and is based in Bangalore, India.

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Buyer(S) 1

Buyer

Tata Group

Mumbai, India
Category Company
Founded 1868
Sector Diversified
DESCRIPTION

The Tata Group is an Indian multinational conglomerate. Tata maintains interests in a diverse set of businesses spanning communications, IT, engineering, materials, services, energy, consumer products and chemicals.

DEAL STATS #
Overall 3 of 3
Sector (E-Commerce) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (India) 2 of 2
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-24 Tata Group - e-Learning busines

India

Tata Group - e-Learning busines includes Tata Interactive Systems India (a division of TIL), Tata Interactive Systems AG, and Tata Interactive Systems GmbH.

Sell -

Seller(S) 2

SELLER

Ascent Capital

Bangalore, India

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ascent Capital is a private equity firm focused on growth capital investments in promising Indian companies driven by 'visionary leadership'. In addition to providing growth financing, Ascent also helps young companies attract senior management talent and maintain high standards of corporate governance in preparation for an exit. Ascent invests in the range of $10 - $30 million per transaction. Ascent prefers investing in sectors that leverage India's outsourcing strengths, benefit form the country's infrastructure boom, and address a growing consumer market. Ascent Capital was formed in 2000 and is based in Bangalore.

DEAL STATS #
Overall 8 of 9
Sector (E-Commerce) 1 of 1
Type (Add-on Acquisition) 2 of 3
Country (India) 8 of 9
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-18 MyGlamm

Mumbai, India

MyGlamm is a direct to consumer beauty brand. It offers beauty, personal care and cosmetic products through its platform, marketplaces, and offline distribution. MyGlamm was founded in 2015 and is based in Mumbai, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-08 CRMNEXT

Noida, India

CRMNEXT is a specialist Customer Relationship Management solutions company. Its customers include several of the largest and fastest-growing brands in the world who rely on its banking CRM, Insurance CRM and Financial Services CRM solutions for all their sales, onboarding, servicing and cross-sell needs. CRMNEXT was founded in 2001 and is based in Noida, India.

Buy -
SELLER

The Abraaj Group

Dubai, United Arab Emirates
Category Asset Manager
Founded 2002
PE ASSETS 7.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Abraaj Capital Limited is a private equity firm that seeks investments in the Middle East, North Africa, and South Asia. Abraaj looks for stable, mature businesses and uses a 'buy and build' strategy for growth. Areas of interest include aerospace, healthcare, transportation, financial services, leisure, education, energy, and manufacturing. In addition to its buyout and growth capital investments, Abraaj also invests in real estate and infrastructure. Abraaj Capital was formed in 2002 and is based in Dubai.

DEAL STATS #
Overall 28 of 30
Sector (E-Commerce) 1 of 1
Type (Add-on Acquisition) 12 of 14
Country (India) 3 of 3
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-07 Rentandes

Bogota, Colombia

Rentandes specializes in the long-term rental of transportation, construction equipment, and machinery in Colombia, but with extra value-added services. It works exclusively with well-represented brands and provides functions that go beyond traditional leasing, such as maintenance, satellite monitoring, back-up capacity, insurance, and other facilities that are appreciated by customers and enhance operating margins. Rentandes was formed in 2000 and is based in Bogota, Colombia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 Mouka

Lagos, Nigeria

Mouka is a manufacturer of foam and spring mattresses, polyurethane blocks, pillows and sheetings used to make furniture. Mouka was formed in 1959 and is based in Lagos, Nigeria.

Sell $60M
Mergr

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