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Reliance Retail to buy Future group's retail business for Rs 24,713 cr

Future group's brands include Big Bazaar, Easyday, Nilgiris, Central and Brand Factory

The Kishore Biyani-led group is in stake sale talks with Reliance Industries

Kishore Biyani-led Future Enterprises sells its retail, wholesale and logistics businesses to Reliance Industries subsidiary.

Dev Chatterjee Mumbai
Reliance Retail Ventures Limited (RRVL), a subsidiary of Mukesh Ambani-owned Reliance Industries Ltd, today announced that it is acquiring the entire retail, wholesale, logistics and warehousing businesses from the Future Group as a going concern basis for a total consideration of Rs 24,713 crore.

While the widely anticipated acquisition means exit of Kishore Biyani, the “retail king” of India and founder of Future group from the industry after close to three decades, it will consolidate Ambani’s position in the Indian retail industry which is witnessing huge investments by multinational players in the e-commerce segment such as Amazon and Walmart. The merger

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First Published: Aug 29 2020 | 9:10 PM IST

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