Kedaara Capital and Partners Group have agreed to acquire Vishal Mega Mart, India’s leading fashion-led hypermarket brand, from TPG, aiming to drive growth through operational enhancements and market expansion.

Information on the Target

Kedaara Capital Fund II and Partners Group have announced their agreement to acquire Vishal Mega Mart Private Limited (VMM), a leading fashion-oriented hypermarket brand in India, from TPG, a private equity firm. This transaction is pending regulatory approval and is anticipated to finalize later this year.

Headquartered in Gurgaon, VMM franchises the Vishal Mega Mart brand and serves as a wholesale supplier for over 230 hypermarket stores across India. These stores, operated by a network of franchisees, primarily cater to the value-conscious customer segment, with a strong presence in North, East, Central, and certain parts of South India. VMM's hypermarkets feature a unique blend of private label fast-fashion offerings alongside a diverse range of general merchandise and food and grocery products. More than 60% of its franchised stores are located in smaller towns, serving as a vital resource for affordable shopping in household and fashion categories.

Industry Overview in India

The Indian retail industry has witnessed significant growth in recent years, largely driven by increasing urbanization, rising disposable incomes, and changing consumer preferences. The hypermarket segment, in particular, has emerged as a key pla