India’s Spencer’s Retail, a part of RP Sanjiv Goenka Group, agreed to acquire upmarket grocery chain Nature's Basket from Godrej Industries for INR3bn ($43m). Spencer's runs its own grocery stores in parts of the country. "Nature's Basket has a strong portfolio of private label brands which has huge traction with its consumers," Goenka said, adding that RPG would also benefit from the chain's online grocery business.