Star Localmart acquires Bengaluru-based DusMinute, targets 3,000 stores by 2030

Star Localmart, the retail arm of the Sanjay Ghodawat Group, has acquired DusMinute, a Bengaluru-based chain that operates convenience stores inside gated communities. The financial terms of the deal were not disclosed.

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The acquisition adds DusMinute’s 40 residential complex stores to Star Localmart’s network, taking its footprint to 170 outlets across several states. DusMinute also offers app-based doorstep delivery of groceries, fresh produce and household items, an approach that complements Star Localmart’s ambition to deepen its hyperlocal reach.

Founded in 2020, Star Localmart focuses on tier-II to tier-VI towns, opening compact supermarket-style stores that carry more than 3,000 stock-keeping units across national, regional and local brands.

The company currently runs more than 130 outlets in 50 towns across western Maharashtra and northern Karnataka. It said its long-term goal is to expand to 3,000 stores by 2030 and generate Rs 5,000 crore in revenue over the next five years.

DusMinute, founded by Apoorva Mishra, Nikhil Gupta and Ankita Asai, has positioned itself as a neighborhood marketplace for residents of gated communities.

In July 2023, the company raised Rs 11.5 crore in a bridge round led by Inflection Point Ventures, with participation from banker Bandana Kankani, Indian Angel Network and other angel investors.

The Sanjay Ghodawat Group, based in Maharashtra, is a diversified conglomerate with interests spanning aviation, energy, consumer products, education, real estate and retail.