Future Consumer Enterprise (formerly known as Future Ventures India) has acquired 100% equity share capital of Future Agrovet (FAL), from Future Retail (FRL) and other shareholders. As a result of the acquisition of aforesaid stake in FAL, it has become a wholly owned subsidiary of the company and the operational performance of FAL, will form part of the consolidated financial of the company.
FAL is primarily engaged in the business of procuring, processing and supplying of agricultural commodities in loose and packaged form under various private brands of the company in addition to dealing into other branded/non-branded products. It supplies to various formats such as Food Bazaar, KBs Fair Price, Big Apple, Aadhaar etc. besides other Institutional and general trade clientele. It has about 48 distribution centers at 32 locations across 16 states. The sales turnover of FAL, for the financial year 2012-13 is Rs 1,014.67 crore with EBIDTA of Rs 15.25 crore.
The network of collection centers, processing and warehousing facilities of FAL is considered as a strong asset for the urban and rural distribution formats of the company. FAL being also into procuring and processing of agricultural products, is expected to strengthen the existing sourcing capabilities of the company and has great synergies with the integrated food model for the company.
Future Consumer Enterprise is the alternate investment arm of Future Group, India's largest retailer. The Future Group is a business group, led by Kishore Biyani, focusing on consumption-led businesses in India and is also one of India’s leading organized multi-format retailers.
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