Future buys Nilgiris

Biyani-led Future Consumer Enterprises (FCEL) has acquired southern retail chain Nilgiris, considered the pioneers of modern retail in the country. Agencies quoted Biyani as saying, “We have picked almost 100% stake in convenience chain Nilgiris for close to Rs 300 crore.“ The store was owned by UK-based private equity player Actis, which had bought it from the founding Mudaliar family in 2005-06.
FCEL is the food and FMCG arm of Biyani's Future Group, which has plans to build a network of convenience stores across the country . At present, Nilgiris has 140 franchisee operated stores spread across Kerala, Andhra Pradesh, Karnataka, and Tamil Nadu. The acquisition is expected to bolster FCEL's retail network in south India, given that the company's present network of modern trade is primarily in the north and west.
Biyani hasn't stated though whether the Nilgiris brand would continue or would be replaced by any Future Group's existing retail store brands. “This acquisition is synergistic as it enables strengthening and expanding convenience stores through franchises,“ said Biyani, group CEO of Future Group.

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