The Kishore Biyani-led Future Group today said that it has bought the lone India franchisee store of South Africa’s biggest grocery chain, Shoprite Holding, and renamed it as Foodrite. “We always wanted to have a large format store dedicated only for food and so we took over the Shoprite store,” Future Group’s Customer Director, Damodar Mall, told reporters here. The store is spread over 55,000 sq feet with a bakery. Mall, however, did not disclose the amount at which Future Group bought the store from Shoprite Holdings.

Shoprite sold multi-brand products in India through a franchisee agreement with Mumbai-based property developer, Nirmal Lifestyle. Mall said that the company was open for acquisition of a similar kind in the future as well.

Also Read   Related Stories News Now - Retailers look afresh at wholesale biz - Future Group chases Reliance on private brands - Biyani rejigs top deck at Future Group - Fame India shares gain on higher open offer talks - RMW knocks on Sebi door to get equal seats on Fame board - Birla Retail becomes realistic to turn profitable

Also Read   Related Stories News Now - Markets end flat - Turbulence ahead for airlines despite oil price drop - Weak rupee may bring cheer to NRIs, expats - LIC buys PSU stocks, sells pvt sector blue-chips in Q4 - Banks may lower deposit rates as inflation eases: Report More

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end flat - Turbulence ahead for airlines despite oil price drop - Weak rupee may bring cheer to NRIs, expats - LIC buys PSU stocks, sells pvt sector blue-chips in Q4 - Banks may lower deposit rates as inflation eases: Report

Tags : Kishore Biyani | Future Group | Damodar Mall |   Read Business news in  Advertisements -  Journey on, We are by Your Side. Click here to know more -  2 Lac Apartments, 1 Lac House / Plots. Click here -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  The Best Seller is Also the No. 1 in Mileage. Click here -  Watch The Film Here. Click here to know more.. -  Leader in Passenger Car & Automobile Tyres. Click here -  1 billion in saving for Unilever without any tangles. -  A Brand New Server at a Price That Fits Your Budget. Click here -  Learn How One City is Running on FOOD SCRAPS. -  One Partnership Endless Possibilities. Click here to know more -  Helping doctors detect diseases earlier, saving costs & extending lives. -  36 Lakhs can get you a pool of Luxuries. Click here -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More