IANS | 13 Jul, 2023
Online food delivery platform Swiggy on Thursday said it has acquired
retail distribution company Lynk Logistics Limited for an undisclosed
sum to enter the massive retail market.
Lynk will continue to
operate as an independent business post the acquisition led by
Co-founder and CEO, Shekhar Bhende, Swiggy said in a statement.
The acquisition will help Swiggy’s entry into the huge retail market with a technology-led distribution platform.
Founded in 2015 by Abinav Raja and Bhende, Lynk is one of India’s largest tech-driven FMCG retail distribution companies.
“Lynk
is uniquely positioned in the retail distribution space with their
brand-first, tech-led operating model and has demonstrated success with
multiple FMCG brands,” said Sriharsha Majety, CEO, Swiggy.
“Our
experience in supply chain and logistics gives Swiggy the unique
opportunity to help Lynk scale up their offerings and empower retailers
to serve their customers better,” he added.
Lynk has a network of
more than 1 lakh retail stores across top eight cities. The company has
grown 2.5 times year-on-year with improved profitability.
"With
Swiggy, we now hope to further accelerate our growth and double down on
the tremendous opportunity before us,” said Bhende.
Lynk leverages
a proprietary, integrated technology platform to power the entire
retail distribution value chain across warehousing, inventory management
and logistics operations. It is building a full-stack FMCG retail
distribution platform.
