• Chethan Machaknur

Reliance Retail buys Future Group's businesses for ₹24,713 cr


Reliance Industries Ltd announced the acquisition of businesses of Kishore Biyani's Future Group for ₹24,713 cr to add to its fast expanding retail business.Reliance Retail will now have access to close to 1,800 stores across Future Group's Big Bazaar, FBB, Easyday, Central, Foodhall formats, which are spread in over 420 cities in India.


"Reliance Retail Ventures Ltd (RRVL), subsidiary of Reliance Industries Ltd will acquire the retail and wholesale business and the logistics and warehousing business from the Future Group as going concerns on a slump sale basis for lumpsum aggregate consideration of INR 24,713 cr," the company said in a statement.

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