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Reliance Acquires Big Bazaar

Reliance Retails Venture Limited (RRVL) announced the acquisition of Retail and Wholesale Business and Logistics and Warehousing Business from the Future Group for a transaction of Rs 24,713 crore. It has been done as a part of a scheme where Future Group is merging companies like Future Retail, Future Lifestyle Fashions, Future Consumer, Future Supply Chains, and Future Market Networks into Future Enterprises Limited (FEL). Future Enterprises will be selling Big Bazaar, fbb, Foodhall, Nilgiris, Brand Factory, to Reliance Retail and Fashion Lifestyle Limited (RRFLL), a subsidiary of Reliance Retails Venture Limited (RRVL).

Mukesh Ambani. (Source: The Financial Express)

Through a press release, Reliance Industries Limited (RIL) said that the acquisition of retail, wholesale, and supply chain business of Future Group will be a strong strategic fit into Reliance’s retail business and that it will help Reliance Retail to accelerate providing support to millions of small merchants in increasing their competitiveness and to enhance their income during these challenging times.

Commenting on the acquisition, Isha Ambani, the Director of Reliance Retail Ventures Limited 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”.

It should be noted that Reliance will takeover Future Consumer Limited which sells food, home, and personal care products, the financial and Insurance business of the Future Group is not part of the deal. It is said that this acquisition will help Reliance retail expand its offline retail presence.

Kishore Biyani, the Group CEO of Future Group said that as a result of this reorganization, Future Group will achieve a holistic solution to the challenges caused by COVID. He also said that this transaction takes into account the interests of all its stakeholders, including lenders, shareholders, creditors, suppliers, and employees.


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