Future Group merger creates Indian giant
Future Group, one of India’s highest profile retailers, has agreed to merge its operations with Bharti Retail to create a retail powerhouse with more than 570 stores.
Bharti Retail currently runs more than 200 Easyday branded stores of multiple formats across 114 Indian cities, traversing Punjab, Haryana, National Capital Region, Western Uttar Pradesh, Uttarakhand and Bangalore.
Future Group has more than 17 million sqft of retail space in a variety of formats and categories in 166 Indian cities.
Post merger, the combined group will comprise two organisations, both listed. One, named Future Retail will run the combined store network. The other, Future Enterprises, will manage the assets, and infrastructure of the two companies.
Post-merger, Future Retail will run stores in 243 cities with 18.5 million sqft of floor space. The network will include 203 Big Bazaar and Easyday hypermarkets, 197 Food Bazaars and Easyday supermarkets and 171 other retail shops including eZone, Foodhall, Home Town and FBB.
Kishore Biyani, founder and CEO of Future Group said the Bharti operations and network “complement perfectly” with Future Retail’s.
“It will bring us closer to millions of consumers and provide new opportunities for our supply partners. The operational efficiencies that can be derived from the merger will create significant value for our shareholders,” he said.