Even as Mukesh Ambani’s Reliance Industries has reportedly acquired Netmeds and Zivame, a Times of India report now suggests that the business conglomerate is in talks to acquire online furniture player Urban Ladder and Milkbasket, a milk delivery startup. This comes at a time when Reliance is in advanced stages of completing a deal to buy Future Group’s retail and consumer businesses including Big Bazaar and Fashion Big Bazaar.
With Urban Ladder, Reliance is reportedly exploring a $30 million deal that is in advanced stages. The deal will include further fund infusion along with an earn-out for the management. As per the TOI report, Urban Ladder earlier was in talks with Flipkart and FabIndia as well for a potential sale.
With most of India now working from home, online sales of furniture has seen a significant uptick with people setting up offices within their homes. This could be a space that Reliance now wants to tap into.
Milkbasket, which has been in talks with other players such as Bigbasket and Amazon India is now reportedly looking for a better deal from Reliance after talks fell through with BB and Amazon over valuation.
With Reliance aggressively growing its e-grocery play, Milkbasket will help the company add delivery of dairy, bread and eggs as well to its portfolio as a dedicated delivery service.
Reliance said in a stock exchange disclosure that while the company doesn’t comment on media speculation and rumours, it evaluates various opportunities on an ongoing basis. Urban Ladder and Milkbasket declined to comment.
This is not all, the oil-to-telecom conglomerate has reportedly entered the bid acquire TikTok’s India business. As per reports, Reliance Industries held talks TikTok parent ByteDance to acquire its operations in India in a deal that is likely to be valued at $5 billion.
These reports comes close on the heels on the corporate behemoth reportedly acquiring the stake of Ronnie Screwvala-owned Unilazer Ventures in lingerie retailer Zivame through Reliance Brands. ET reported that the company is now looking to take full control of the company. With this, Zivame will join the likes of Jimmy Choo, Tiffany, Diesel, etc that Reliance Brands runs.
Reliance has also shown interest in entering the e-pharmacy space, with the company acquiring Chennai-based Netmeds for around $120 million. The deal has reportedly been completed but is yet to be announced. The e-pharmacy space has been seeing consolidation with PharmEasy and Medlife being in talks for a merger as well. Amazon too, announced its foray into the space.