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Kishore Biyani to buy Nilgiris

Held talks with Actis Capital

Tags: retail, retail, news, Nilgris

November 20, 2013  |  comments ( 0 )  | 
Kishore Biyani to buy Nilgiris

Kishore Biyani-owned Future Group is negotiating with private equity firm Actis Capital to acquire a stake in Nilgiris, a Bangalore-based supermarket. Nilgiris is India’s oldest organised retail chain and was founded in 1905.

This acquisition would give Biyani a control over 140 supermarkets in south India, a market that the Future Group is keen to boost its presence.  Nilgiris has an annual turnover of Rs 700 crore, and about 60-70 per cent of its stores are run on a franchise basis.

In 2006, UK-based Actis had bought a 65 per cent stake in this supermarket chain for about $ 65 million.

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