Reliance Retail Venture Limited (RRVL) a subsidiary of Reliance Industries Ltd., today announced that is acquiring the entire
- retail,
- wholesale,
- logistics; and
- warehousing
The Deal
The total consideration for the deal is Rs.24,713 crore.
The widely anticipated acquisition means exit of Mr. Kishore Biyani - the founder of "Future Group".
It will also consolidate Reliance's position in the Indian retail industry. The merger also means greater competition for existing retail companies like D-Mart and Aditya Birla Fashion.
Reliance View
Isha Ambani, Director at Reliance Retail, in a statement said
“With this transaction, we are pleased to provide a home to the renowned formats and brands of Future Group as well as preserve its business ecosystem, which have played an important role in the evolution of modern retail in India. We hope to continue the growth momentum of the retail industry with our unique model of active collaboration with small merchants and kiranas as well as large consumer brands. We are committed to continue providing value to our consumers across the country,”
Future Group Brands
(Disclaimer : This blog is for educational purposes and not to solicit any business or offer any kind of advise. Please take a careful and informed decision.)
