Vikas Lifecare Ltd acquires 30% stake in Retail Chain Stores Ardh Sainik Canteen

Vikas Lifecare Limited, as a measure of forward integration, in order to extend its retail footprint across India, taking another giant leap forward while moving at lightening pace on the path of engraving a strong foot-hold in the Consumer Products Retail Market Segment has acquired 30% stake in the Ardh Sainik Canteens in an all-cash deal of INR 150 Million from its existing stakeholders.

The Company has been eyeing a space for itself in the retail market segment including E Commerce Market Place for the Consumer Products including the Agro Products business segment expanding exponentially during the recent 12~18 months. Being a strategic investment, Vikas Lifecare Limited commit itself for expansion and broad-basing of Ardh Sainik Canteens business operations.

Ardh Sainik Canteen Stores (ASC) is a unique concept for chain of retail stores, owned by Abhhyam Services Private Limited, wherein Canteen (Retail) Stores are being operated/opened across India by the retired paramilitary personnel/family members of existing jawans at their hometowns. The Present network of ASC comprises:

- 600 Running Canteens
- 140+ Vendor Partners
- 12 Running Depots
- 4500+ Canteen requests In Process

ASC stores are popularly known as "Abhyam Distribution Centers" that enjoy the sale and distribution through aggressive direct marketing plan, Inventory management, sales, distribution and logistics managed through ASC web application. The online sales are made through www.ahhyam.com pursuing an E-commerce model and rendering home delivery services. Target of ASC store is to set up at-least one canteen in each tehsil and one small canteen in each village. ASC is currently present in 150+ Tehsils across India with an aim to reach 5600 Tehsils with 4500+ applications in process for opening new canteens.

Source : Equity Bulls

Keywords

VikasLifecare StakeAcquisition ArdhSainikCanteens