One of the country’s largest independent gourmet food retailers Le Marche is on the block and diversified DS Group (or the Dharampal Satyapal Group) is in advanced talks for buying it out, two officials directly aware of the developments said.
The family-owned Marche Retail, which stocks an exhaustive assortment of products ranging from everyday staples, fresh vegetables and fruits, gourmet, bakery, meats, poultry, seafood and frozen foods, has a turnover of close to Rs 100 crore. “We are in talks with more than one buyer; nothing is conclusive yet,” Le Marche Retail director Nakul Yadav told ET. He said the decision to sell off the family-run group’s food business was to expand and focus on the group’s other businesses which include hospitality, real estate and luxury salons. “We could either divest Le Marche as a complete entity or divest part equity. We are exploring all options.” For the cash-rich Rs 7,700 croreplus DS Group, the acquisition would mean immediate access to a large retail footprint with a captive premium target consumer base, including expatriates.