Mukesh Ambani’s Reliance Retail is involved in the acquisition of Future Group. At the same time, Future Group Company plans to expand to Big Bazaar.
The country’s leading hypermarket chain Big Bazaar plans to launch 16 new stores in the next three quarters. The expansion will increase the number of Big Bazaar stores to more than 300. Explain that the company has a presence in more than 100 cities. According to reports, Big Bazaar will now open new stores in Tier-2 cities as part of its expansion plan.
In addition, the company will have stores in many states across the country. Let me tell you that Reliance Industries’ retail unit will take over Future Group’s retail, wholesale, logistics and warehousing business. The deal is worth Rs 24,713 crore. Once the deal is completed, Reliance Industries’ retail business will expand.
The deal was stopped: The agreement between Reliance Retail and Future Group was objected to by US e-commerce company Amazon. After all the legal process, the Competition Commission of India (CCI) has recently approved the acquisition.
Following the approval, Reliance Retail has gained access to 1,800 stores across the country by Future Group. These include Future Group’s stores in Big Bazaar, FBB, EGD, Central Foodhall formats. The companies have also invested in retail and have joined Reliance’s second platform, Geo.
Facebook with us for Hindi news, Twitter, Join LinkedIn, Telegram and download Hindi News App. If interested