Partners Group, Kedaara Capital Fund to buy Vishal Mega Mart

Private equity firms Partners Group and Kedaara Capital Fund said on Monday they would acquire value retail chain Vishal Mega Mart from private equity firm TPG. Though the deal size was not disclosed, sources said it was expected to be around Rs 50 billion.

Vishal Mega Mart makes healthy margins and is profitable relative to its peers. The existing team, led by former Reliance Fresh CEO Gunender Kapur, will continue and will be supported by the investors. The transaction is subject to regulatory approval and is expected to close later this year, Partners Group said.

Vishal Mega Mart has 230 stores in