Reliance Industries completed the acquisition of METRO Cash & Carry India from METRO for $344m.

Reliance Industries, a business conglomerate, completed the acquisition of METRO Cash & Carry India, the Indian retail business of METRO, a retailer, for $344m. “The acquisition of METRO India aligns with our new commerce strategy of building a unique model of shared prosperity through active collaboration with small merchants and enterprises. METRO India is a pioneer and key player in the Indian B2B market and has built a solid multi-channel platform delivering strong customer experience. We believe that METRO India’s healthy assets combined with our deep understanding of Indian merchant / kirana ecosystem will help offer a differentiated value proposition to small businesses in India," Isha Ambani, Reliance Retail Director.