Metavisio-Thomson to buy stake in New Shop after $150 million deal

17 Sep 2024 CW Team

The Indian unit of French consumer technology company Metavisio-Thomson, known for selling affordable TVs, notebook computers, and tablets under the Thomson brand, is acquiring a minority stake in the convenience retail chain New Shop. This move follows a strategic distribution deal between Metavisio-Thomson and New Shop, aimed at jointly establishing 120 flagship stores in India's tier-2 and tier-3 markets.

The deal, valued between $125 million and $150 million, is part of Metavisio-Thomson's broader push into India's rapidly growing hinterland markets. Last week, when the distribution deal was announced, Metavisio-Thomson hinted at major upcoming announcements. The partnership will see New Shop retail Thomson products across 35 cities in 18 states.

New Shop is also in the process of acquiring the 24Seven grocery and convenience retail chain, previously owned by Godfrey Phillips. This acquisition follows Godfrey Phillips' exit from the retail business last month, which involved 90 full-format outlets and 40 kiosks of 24Seven. Founded in 2019 by Aastha and Charak Almast with Mani Dev Gyawali, New Shop operates 160 stores across 35 cities, offering grocery staples, snacks, personal care, pet food, hygiene products, and over-the-counter medicines.

Aastha Almast, Co-founder and CEO, New Shop, declined to comment on Metavisio-Thomson's stake acquisition. However, she highlighted the partnership's impact, stating, "We are serving 3 million customers monthly, and this partnership expands both our product portfolio and presence."

The partnership aims to reach 2,000 points of sale within three years, with the first retail store openings slated for October. The distribution deal will ensure that all acquired stores sell grocery items and Thomson's notebooks, televisions, and tablets. (ET)

Infrastructure Transport

12 Mar 2026

Kavach 4.0 Commissioned on Delhi–Mumbai and Delhi–Howrah

"Kavach version four has been commissioned on 1,452 route km, covering the high density Delhi–Mumbai and Delhi–Howrah corridors. The rollout included laying 8,570 km of optical fibre, installation of 1,100 telecom towers, deployment of trackside equipment over 6,776 RKm and establishment of 767 station data centres. Trackside implementation has been taken up on 24,427 RKm covering Golden Quadrilateral, Golden Diagonal and High Density Network sections. The programme aims to strengthen signalling and train protection on key routes.Kavach is an indigenously developed automatic train protecti..

Railways Advance Kalyan–Murbad Line And Mumbai Capacity Expansion

"Indian Railways is advancing multiple rail infrastructure projects in Maharashtra, including the sanctioned Kalyan–Murbad new line and sizable investments under the Mumbai Urban Transport Project and the Mumbai–Ahmedabad High Speed Rail project. The Kalyan–Murbad 28 km new line has been sanctioned at Rs 8.36 billion (bn) on a 50:50 cost-sharing basis with the Government of Maharashtra and has been declared a Special Railway Project for land acquisition; proposals covering 214 hectares are at various stages of acquisition. Budgetary outlay for projects falling fully or partly in Maharash..

Parliamentary Panel Flags Funding Gaps in Heavy Industries

"The Department-Related Parliamentary Standing Committee on Industry (Rajya Sabha) presented its 332nd report on the Demands for Grants 2026-27 of the Ministry of Heavy Industries (MHI). Figures converted from crore and lakh are expressed in million (mn). The Budget Estimates 2026-27 for the Ministry stand at Rs 79,399 mn against a projected requirement of Rs 94,843.2 mn, a shortfall of about 16 per cent, with revenue at Rs 79,370.8 mn and capital compressed to Rs 28.2 mn from Rs 5,020 mn.The committee flagged recurring BE-to-RE compression and declining revised estimate utilisation, and calle..