Kishore Biyani, Indian retail’s original rockstar at it again. His Future Group is buying Heritage Fresh
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Advanced talks about acquiring the retail business of Heritage Foods are being done by
This would be Biyani’s fourth acquisition in many years, if this deal completes, as his Future Group consolidates its position, especially in grocery retail.
"Contours of the deal are still being worked on - how
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Biyani will take the Future Group's total store count to more than 850 outlets including the Heritage Fresh chain.
"Apart from pushing its own label, the deal will also help the company operate a bigger network of stores that will come handy for bulk sourcing and, in turn, more bargaining power to squeeze extra margins from consumer product companies, so his consolidation strategy is a smart move,"
In many southern cities, the supermarkets contributes to about 25%, indicating growing acceptability of modern store formats, while modern trade accounts for about 10% of overall consumer goods sales.
The strategic buyout will make the Future Group look more attractive to the foreign investors.
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India allowed total FDI in brick-and-mortar as well as online retailing of food that's locally sourced and produced, in June this year. However, foreign retailers are not very comfortable with it and are saying that food-only stores won't be viable and non-food general items should also be allowed in such shops.Advertisement
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