Future Group in discussion with Heritage Foods for acquiring its retail division

India Infoline News Service | Mumbai | September 19, 201615:21 IST

Going forward, the transaction will be Biyani's fourth acquisition in as many years, as his Future Group consolidates its position, especially in grocery retail.

The ongoing talks between Kishore Biyani’s Future Group and Heritage Foods have reached advanced stage, since the former is keen to acquire the retail business of the latter, says an ET report.

The deal, on materialization will make Biyani oscillate over a network of more than 100 grocery outlets in Hyderabad, Chennai and Bengaluru. Going forward, the transaction will be Biyani's fourth acquisition in as many years, as his Future Group consolidates its position, especially in grocery retail, the report said.

The company has acquired Easyday network from Bharti Retail, New Delhi-based Big Apple and Hyderabad-based Nilgiri's supermarket chain, in the past since 2012.

While the talks between the two companies have escalated, reports say that the way Heritage Fresh will be merged within Future Group and any likelihood of the transaction involving any share swap, apart from cash component, is yet to be worked upon.
 

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