Reliance Retail buys Future Group’s businesses including Big Bazaar for ₹24,713 crore

August 30: Mukesh Ambani’s Reliance Industries Ltd (RIL) on Saturday announced the acquisition of businesses of Kishore Biyani’s Future Group for ₹24,713 crore to add to its fast expanding retail business. Future Enterprises will subsequently sell by way of a slump sale the retail and wholesale business such as Big Bazaar, fbb, Foodhall, Easyday, Nilgiris, Central and Brand Factory to Reliance Retail and Fashion Lifestyle Limited (RRFLL), a wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL).

RIL in a press release said that the acquisition of the retail, wholesale and supply chain business of the Future Group will complement and make a strong strategic fit into Reliance’s retail business. The above acquisition is being done as part of the scheme in which Future Group is merging certain companies carrying on the aforesaid businesses into Future Enterprises Limited (FEL).

Reliance Retail will now have access to 1,800 stores across Future Group’s Big Bazaar, FBB, Easyday, Central, Foodhall formats, which are spread in over 420 cities in India.