Consolidation Accelerates as Major Indian Conglomerates Scale Retail Portfolios
The Indian corporate sector is experiencing a significant wave of consolidation in Q2 2026, as companies aggressively deploy capital to buy market share, operational synergies, and technical assets. Overall M&A deal value in India more than doubled to $36.3 billion during this period. Among the key domestic deals, the Graviss Group—the long-standing operator of Baskin Robbins in India—is in advanced discussions to acquire the Dunkin’ India franchise rights, following Jubilant FoodWorks’ decision to terminate its long-running agreement.
This acquisition marks a major diversification into the food and beverage retail sector for the Graviss Group. Leadership reportedly sees strong operational synergies between its established ice cream distribution network and Dunkin’s portfolio, intending to aggressively revamp and scale the brand’s struggling “coffee-and-doughnut” model across the Indian subcontinent.
Cars24 and WTF Make Strategic Acquisitions in Data and Creator Economies
Simultaneously, automotive e-commerce platform Cars24 has made decisive moves to build a “full-stack” vehicle ownership platform ahead of a potential IPO. In Q2 2026, Cars24 finalized the acquisition of vehicle information aggregator CarInfo, alongside another platform, Vehicle Info. These acquisitions are designed to deeply integrate services like challan payments, insurance renewals, and registration management into its ecosystem, significantly boosting its consumer data offerings and valuation services.
In the rapidly growing creator economy, WTF—the media and venture platform founded by Nikhil Kamath—has concluded high-profile acquisitions, recently purchasing the Mumbai-based independent creative agency BTG (By The Gram). Following its earlier acquisition of One Hand Clap (OHC), this move highlights a growing trend of well-capitalized platforms buying entire operating teams and boutique agencies to secure immediate market presence and leverage established distribution infrastructure.
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