Chandigarh, 18th February 2011: METRO Cash & Carry, the international leader in business-to-business wholesale, announced the market entry with its first wholesale center in Punjab. A team of senior officials from METRO met the Hon’ble Chief Minister of Punjab, Shri Prakash Singh Badal to apprise him of the market entry at Ludhiana, marking the beginning of METRO’s activities in Punjab. The team was led by Shri Rajeev Bakshi, Managing Director of METRO Cash & Carry India.
The first wholesale center of METRO Cash & Carry India in Punjab is slated to open at Ludhiana during the latter half of 2011. This will be the company’s fifth city and seventh wholesale center in India. This is also in continuation to the MoU that the Company had signed with the Government of Punjab in 2008. The company currently operates a total of six wholesale centres including two each in Bangalore and Hyderabad and one each in Mumbai and Kolkata.
Punjab is characterized by a rapidly growing economy, progressive outlook and modern infrastructure. “We are convinced that our unique business-to-business wholesale concept will be well-accepted by our business customers here and will be beneficial to the local producers and the overall economy of the State.” said Rajeev Bakshi, Managing Director - METRO Cash & Carry India. “We are extremely appreciative of the Government of Punjab for supporting our business initiatives in the state. METRO will make an investment of over Rs. 60 crores per wholesale center in the State of Punjab”, he added METRO Cash & Carry provides job opportunities for the youth and also creates direct linkages with the farmers for sourcing local produce. With this, METRO re-iterates its commitment in the growth and progress of Punjab.
METRO Cash & Carry entered the Indian market in 2003. It caters exclusively to professional business customers like hotels, restaurants, small retailers like kirana stores and offices. The assortment and services are tailored to meet the special needs of these target groups.
The company also works closely with local producers, suppliers, small and medium enterprises, co-operatives and self-help groups to source its products, as it sources a large part of its products locally. Moreover, each wholesale center creates 250 direct and 100 indirect job opportunities for the local citizens.
About METRO Cash & Carry
METRO Cash & Carry is represented in 30 countries with around 670 self-service wholesale centers. With more than 100,000 employees worldwide, the company achieved sales of about € 30.6 billion in 2009. METRO Cash & Carry is a sales division of the METRO GROUP.
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