Future Retail is reportedly all set to acquire HyperCity, a premium chain of 19 hypermarkets from Shoppers Stop for Rs 700 crore through a combination of cash and shares to further consolidate his footprint in western India.
The transaction will be similar to the Heritage transaction. Shareholders of Hypercity will get shares of Future Retail, while part of the company’s debt is also likely to get transferred.
Future Retail offers food and grocery categories, fresh fruits and vegetables, meat and poultry, dairy products, staples, FMCG and processed foods, electronics and appliances, clothing and footwear, furniture and furnishing, and other household articles.
