Reliance Retail to acquire Milkbasket.

Reliance Retail, a business conglomerate, agreed to acquire Milkbasket, a subscription-based, hyperlocal delivery platform. Financial terms were not disclosed. The acquisition by RIL makes sense as the company is planning to expand in the online grocery segment with JioMart. We have seen similar acquisitions when TATA acquired Big Basket and Swiggy acquired Supr Daily. The online e-grocery delivery space is emerging as a battleground for all the big boys in the space. RIL is also evaluating new startups in the space.