Mukesh Ambani’s Reliance Retail is involved in the acquisition of Future Group. At the same time, Future Group company Big Bazaar has plans to expand.
The country’s major hypermarket chain Big Bazaar plans to launch 16 new stores over the next three quarters. With this expansion, the number of Big Bazaar stores will increase to more than 300. Explain that the company has a presence in more than 100 cities. According to the information, Big Bazaar will now open new stores in Tier-2 cities as part of its expansion plan.
With this, the company will have stores in most states of the country. Let us know that the retail unit of Reliance Industries is going to acquire the retail, wholesale, logistics and warehousing business of Future Group. This is a deal of Rs 24,713 crore. With the completion of this deal, Reliance Industries will expand into the retail business.
Deal was put on hold: US-based e-commerce company Amazon had raised objections to the deal between Reliance Retail and Future Group. After going through all the legal process, the Competition Commission of India (CCI) has recently approved the acquisition.
After the approval, Reliance Retail has got access to 1800 stores spread across the country by Future Group. This includes stores from Future Group’s Big Bazaar, FBB, EGD, Central Foodhall Formats. The fact is that Reliance Retail has received investments from all over the world including the US. Those companies have also invested in retail, which have also bought a stake in another Reliance platform Jio.
Facebook with us for Hindi news, Twitter, LinkedIn, Join Telegram and Download Hindi News App. If interested in