Future Groups retail business to merge with Bharti Retail

New Delhi: Kishore Biyani-promoted Future Retail will merge its retail operations with Bharti Retail to form one of India’s largest retail networks with 570 stores across 243 cities, the company said on Monday.

Bharti Retail operates its stores under Easyday brand, while Future Retail has stores under various brand names such as Big Bazaar, Home Town, eZone, etc.

“Consolidation process will result in creation of two distinct entities post-merger – one focused on retail operations and other holding the infrastructure and investment,” Future Retail said in a statement.

The first entity will be called Future Retail post the completion of the de-merger and it will host the retail operations of both the entities. The second entity will be known as Future Enterprises and it will host the infrastructure, investments and assets of both the companies.

Shareholders of Bharti Retail and the shareholders of Future Retail will be shareholders in each of the entities.

Future Retail shares jumped as much as 18.5% in trade on Monday, outperforming the broader Sensex, which traded 1% higher.

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