Swiggy, India’s leading on-demand convenience platform, has announced its definitive agreement to acquire LYNK Logistics, one of India’s largest tech-driven FMCG retail distribution companies. LYNK will continue to operate independently under the leadership of Co-founder and CEO Shekhar Bhende.
The acquisition allows Swiggy to enter the food and grocery retail market, estimated to be over $570 billion and experiencing rapid year-on-year growth of 8 percent. Sriharsha Majety, CEO of Swiggy, expressed excitement about the deal, stating, “LYNK is uniquely positioned in the retail distribution space with their brand-first, tech-led operating model and has demonstrated success with multiple FMCG brands.” He emphasised the opportunity for Swiggy to leverage its supply chain and logistics expertise to support LYNK’s expansion and enable retailers to enhance customer service.
Shekhar Bhende, Co-founder of LYNK, shared his enthusiasm about the partnership, highlighting LYNK’s growth and its aim to lead the digitisation of retail distribution in India. With Swiggy’s support, LYNK aims to accelerate its progress and capitalise on the significant opportunities in the market. Bhende expressed confidence in the compatibility between the two companies, noting their shared focus on innovation and growth.
LYNK covers a vast network of over 140,000 stores, working with renowned FMCG brands such as HUL, Marico, Colgate, and more. Swiggy, on the other hand, connects consumers with over 250,000 restaurant partners and operates its quick commerce grocery service, Instamart, in over 25 cities.
The acquisition of LYNK aligns with Swiggy’s expansion strategy and positions the company to further tap into India’s booming food and grocery retail sector.