Reliance India: Acquired Future Group’s Retail For ₹24,713 Crore
Mukesh Ambani-Acquired Future Group’s stake
On 29th August, Saturday Reliance India announced that it is buying Future Group’s businesses.
- Warehousing
- Logistics
- Wholesale
- Retail
The Reliance Retail Ventures Limited is the subsidiary company of Reliance Industries Limited.
The above mentioned acquition by the reliance is the part of the scheme in which future group is merging certain companies carrying on the aforesaid businesses into Future Enterprises Limited.
The retail and wholesale undertaking is being transferred to Reliance Retail and Fashion Lifestyle Limited, a fully-owned subsidiary of RRVL, the logistics and warehousing undertaking is being transferred to RRVL and RRFLL as per the same scheme.
Isha Ambani said “the small merchants & kiranas as well as large consumer brands we hope to continue the growth of the retail industry with our unique model with out commitment to provide right value to our consumers across the India,
“this acquisition is so important for the evolution of modern retail in India. We are happy to provide a home to the renowned formats with the help of this transaction & brands of Future Group as well as by preserving its business ecosystem”.
The 550 stores operated by the Future Retail. BigBazaar, FBB, Foodhall, Easyday, Heritage Fresh, WHSmith. Future Lifestyle Fashion operates 354 stores. are their flagship brands.
