Vishal Mega Mart`s Successful Turnaround: The Role of Private Equity
| Case Code: BSTR664 Case Length: 7 Pages Period: 2001-2023 Pub Date: 2023 Teaching Note: Available |
Price: Rs.300 Organization : Vishal Mega Mart Industry : Retailing Countries : India Themes: Turnaround Strategy, Marketing Mix, Entrepreneurship,Growth Strategy |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
On May 21, 2018, Partners Group, a Swiss private equity investor, and India based Kedaara Capital announced the acquisition of Vishal Mart, a retail chain, from US private equity giant Texas Pacific Group (TPG) Capital and Chennai-based Shriram Group for INR50 billion. This was the culmination of a remarkable turnaround since TPG and Shriram Group had taken over Vishal Mart through a slump sale approved by the Delhi High Court only seven years earlier, on March 14, 2011 through a joint venture subsidiary, TPG Wholesale Pvt. Ltd, after paying just INR700 million. The Vishal Mart sale by TPG and Shriram group was one of the few times when foreign investors had acquired a troubled Indian asset and made a profit after selling it to Partners Group and Kedaara Capital..
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