In a significant transaction within the Chennai grocery retail industry, WayCool, valued at INR 2,000 crores, has concluded its retail operations under the SunnyBee Market brand. Sources report that Fresh2Day has acquired the brand for an undisclosed amount.
WayCool will continue prioritizing the reinforcement of its supply-chain business, which currently encompasses over 20 distribution centers.
“Waycool continues its B2B enterprise business in the areas of fresh, staples, and dairy, supply chain management, and contract manufacturing,” the source said.
Established in July 2015, SunnyBee stands as a comprehensive premium food store, providing a diverse range of over 5,000 Stock Keeping Units (SKUs) spanning various categories, including regular and exotic fruits, vegetables, dairy products, staples, and both Indian and international foods.
With 11 outlets in Chennai, SunnyBee Market oversees SunnyBee Santhai, an interface connecting farmers and consumers. The SunnyBee mobile app facilitates doorstep deliveries, and within the store, customers can safely utilize the Self-Checkout service.
Fresh2Day, a Chennai-based food and grocery store, features a curated catalog of more than 200 carefully selected products.
“Our main goal is to provide a hassle-free and premium shopping experience with fresh and top-quality products at the lowest prices in the market,” says information in social media.
WayCool Foods stands as India’s foremost food and agtech platform, actively collaborating with over 200,000 farmers through its farmer engagement initiative, Outgrow.
WayCool’s portfolio of consumer brands includes Madhuram, Kitchenji, L’exotique, Dezi Fresh, Freshey’s, AllFresh, and Just Potate.
“With the addition of SunnyBee stores inventory and more, our plan is to reach 35+ Superstores by the end of this financial year,” stated T Annamalai, Founder & CEO of Fresh2Day.
Adding to this, he mentioned that Fresh2Day, boasting 23 retail Superstores in Chennai, has secured its position as the second-largest player in the fruit and vegetable format in the city.
“Sourcing is key and is the most important aspect of our business. We work with several farmers across south India through our collection centres, and our stringent quality checks makes this brand popular among customers,” he said.
“Fresh2day has hired most of SunnyBee’s staff as an internal understanding with its parent company. With this takeover, the company has more than 400+ staff taking care of the needs of its 10,000+ daily customers, said Sanjoy Das, Chief Strategy Officer, Fresh2Day.
R Sathyanarayanan, Associate Professor of Marketing, IFMR Graduate School of Business, Krea University, said, “Waycool is a strong supply-chain and agritech player. Though they manage various businesses in the farm-to-fork value chain, the multi-store, brick-and-mortar retail business is a different ball game and capital-intensive. To be a completely vertically integrated player at this point might dissipate the firm’s energy and resources. The move to focus more on the core business will help WayCool strengthen itself, he said.
