Amazon Purchases Indian Hypermarket Chain More For $580 Million

  • September 19, 2018 at 7:06 PM EDT
  • By Bryan Wassel
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Amazon and Indian private equity firm Samara Capital have acquired More, an Indian supermarket and hypermarket chain, for $580.35 million, according to Reuters. Aditya Birla Group, the parent company of More, confirmed the deal but did not provide details.

Samara will control 51% of the retailer, while Amazon will own the remainder. Pranab Barua, Business Director at Aditya Birla Group, is expected to head the company’s operations.

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The deal will further fuel competition between Amazon and Walmart in India, where Walmart acquired Flipkart for $16 billion in May. Amazon recently launched a Hindi version of its mobile web site and app to grab a larger share of the market.

Amazon’s international expansion isn’t limited to India: the retail giant has launched in Turkey where it offers products across 15 categories. Customers there will have access to more than 1,000 local businesses that were already selling through Amazon in other countries.

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