New Delhi: Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries Ltd (RIL), owned by the country's richest industrialist Mukesh Ambani, on Saturday announced the acquisition of Future Group's retail and wholesale business and logistics and warehousing business. The company has also issued a press release for this.

RRVL has said that as part of this acquisition plan Future Group is merging some of its companies with Future Enterprises Limited (FEL). The company has informed that under the scheme, the retail and wholesale business of Future Group will be transferred to RRVL's wholly owned company Reliance Retail and Fashion Lifestyle Limited (RRFLL). Apart from this, logistics and storage business will be transferred to RRVL.

Isha Ambani, director of Reliance Relate Ventures Ltd, said, "We are delighted to preserve the renowned formats and brands of the Future Group, as well as its commercial eco system (environs), which play a key role in the development of modern retail in the country." is. We hope that the retail business will continue to grow through active collaboration with small traders and grocery stores and big consumer brands. We are committed to provide better services to our consumers across the country.

Also Read:

Petrol price increased so much, know today's price

Dinesh Khara might become SBI's new Chairman

Golden opportunity to buy cheap gold, Modi government again started this brilliant scheme

Stock market: Sensex-Nifty maintains momentum even on the last trading day of the week