Swiggy has acquired Chennai-based on-demand logistics platform LYNK Logistics Ltd for an undisclosed amount. LYNK serves several FMCG brands including Hindustan Unilever, Nivea, ITC Ltd, Britannia, and Dabur. LYNK will offer faster order-to-delivery turnaround and improved on-the-shelf availability through better fill rates to retail stores enabling them to increase sales and focus on customer satisfaction, Swiggy said in a blog. Hyperlocal logistics firm LYNK enables FMCG brands to grow their retail presence through its network of over 1 lakh retail stores across the top eight cities of India including Chennai, Mumbai, Delhi, and Hyderabad.
Founded in 2015 by Shekhar Bhende and Abhinav Raja, LYNK also provides a full-stake technology platform for FMCG brands to diversify their distribution network, warehousing, inventory management and logistics operations. With this acquisition, Swiggy enters India’s food and grocery retail market, which is among the world’s largest and fastest-growing, estimated to be greater than $570 billion in size and expected to grow at 8% year-on-year, the blog added. Avendus was the sole financial advisor to LYNK and its shareholders on the transaction. “Given our rapid growth, we believe we are uniquely placed to lead the digitisation of retail distribution in India. With Swiggy, we now hope to further accelerate our growth and double down on the tremendous opportunity before us. We are deeply encouraged by our interactions with Swiggy; both companies have an innate builder bias and I look forward to working together,” said Bhende, Co-founder of LYNK.
