Chandrababu Naidu’s grocery retail business of the company would purchase Heritage Future Group

Hyderabad The country’s leading retail companies, including Andhra Pradesh Chief Minister N Chandrababu Naidu Future Retail company Heritage Foods grocery retail business has agreed to buy on Monday. It...

Hyderabad The country’s leading retail companies, including Andhra Pradesh Chief Minister N Chandrababu Naidu Future Retail company Heritage Foods grocery retail business has agreed to buy on Monday. It will be a stock deal in which 3.65 per cent stake of Heritage Foods will Future Retail. In the south, near Heritage Foods’ heritage Fresh 124 stores under the brand. Company to sell the retail business was looking for investors for some time. The consultancy firm KPMG was responsible for finding investors. 295 crore for its retail business, the company has an enterprise valuation. Future Retail Deal of the Agreement in the country’s dairy parlor Heritage Foods will be allowed to sell their products through the Heritage Foods will sell its dairy products in Future Retail stores. Future Retail after the merger of Heritage Foods’ heritage Fresh retail stores will operate under the same brand. Earlier, Reliance Retail’s Heritage Foods acquired the dairy business. Heritage Foods India’s top dairy firm’s 2021 goal is to become. Before Ijeede of Bharti Retail Future Retail, Nilgiris supermarket chains, chain and all market chain stores buy the base Godrej said. They nearly 700 small-format stores, Future Retail has a network. Future Retail’s chairman and managing director Kishore Biyani said small-format retail stores in Hyderabad on Monday by buying their products and brands, Future Group will help distribution. “The Heritage Foods Dairy, bakery and agri-business is quite strong and it will help us enhance our business.” Future Retail Biyani just 40 per cent through its own brands and revenue by 2021. Their goal is to increase it to 70 per cent. Future Retail business to just about 11 per cent of small-format retail revenue and revenue by 2021. This is expected to be similar to the large-format business. According to Biyani, Large Format Business 2021 will achieve sales of around Rs 24,000 crore. 2021 We both large- and small-format stores 300-500 crore per annum to spend on expansion plans. “Andhra Pradesh Chief Minister Chandrababu Naidu, director of Heritage Foods and the company’s son Nara Lokesh a “historic opportunity” termed Future sales through retail stores Heritage Foods to increase its business and the country’s largest dairy will become the largest private dairy company. Biyani 2021 Future Group is considering making the chain of 4,000 retail stores.

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