Blibli Aquires Ranch Market's Majority Stake, Enhancing Online Grocery Vertical
Blibli acquired 51% of the company's shares; possible synergize business with 48 wholesale retail stores operated by Ranch Market
PT Global Digital Niaga, also known as Blibli is to acquire a majority stake in PT Supra Boga Lestari, the company that operates Ranch Market. Based on the disclosure on the IDX, both parties have signed a Share Purchase Binding Agreement (PPPS) with a plan to take over 797,888,628 shares or equivalent to 51% of the total issued and fully paid capital.
The strategic action is interpreted as Blibli's effort to strengthen the value proposition of its grocery service, BlibliMart. In a media conference in late 2020, the company said the daily staple category was among the best-selling throughout the year. Without mentioning detail numbers, it is described that the number of purchases at BlibliMart increased by 3 times during the pandemic.
Similar to a supermarket, BlibliMart's main products are basic necessities such as rice, sugar, cooking oil, etc. For business process efficiency, they have certain branch offices (including warehouses) in several cities covering Jabodetabek and several areas in East Java. Expansion effort has been generated, in terms of groceries, it is mostly same day delivery; In addition, there are several types of products that cannot last long in shipping, such as meat or fresh ingredients.
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