Metro, the German wholesale retailer, has successfully concluded a deal worth Rs 2,850 crore with Reliance Retail to sell its cash and carry business in India. The transaction marks a significant move for both companies in the Indian market. Reliance Retail, a subsidiary of Reliance Industries, will now take over Metro's operations, including 27 wholesale distribution centers and related assets.

This strategic acquisition by Reliance Retail aligns with its vision to strengthen its presence in the wholesale segment and expand its footprint across India. The deal will provide Reliance Retail with an extensive network of wholesale stores, enabling it to cater to the needs of small retailers, hotels, restaurants, and other business customers.

For Metro, the sale of its cash and carry business in India allows the company to streamline its operations and focus on its core markets. The deal reinforces Reliance Retail's position as a key player in the Indian retail industry and demonstrates its commitment to driving growth through strategic partnerships and acquisitions.

Both companies are optimistic about the synergies and opportunities that this collaboration will bring, leveraging their respective strengths and expertise to deliver enhanced value to customers and stakeholders.