Future Group to buy supermarket chain
India’s largest retailer by revenues, Future Group, is planning to acquire supermarket chain Nilgiris.
The Kishore Biyani-led company is reportedly in negotiation with Nilgiris’ majority owner Actis Capital.
The acquisition of Nilgiris, which operates 140 supermarkets in South India, will help Future Group to scale up its grocery chain KB Fair Price.
Last year, Future Group also snapped up Express Retail, which operates supermarket chain Big Apple, for an undisclosed amount.
Future Group’s Future Lifestyle is also planning to buy six fashion brands including garment chain Coupon, premium apparel brand Giovani and department store chain Ritu Wears Biglife.