Comments
Future Supply Chains, part of Kishore Biyani’s Future Group, will acquire logistics start-up firm Brattle Foods for an undisclosed amount.
As per the agreement between the two firms, Brattle Food will merge with Future Supply Chains (FSC) and shareholders GTI Capital and Epiphany Ventures will get some shareholding in the Future Group company.
“This acquisition and merger will complement the existing modern technology and automation-based supply chain capability of Future Supply Chains in the food and FMCG domain,” FSC Managing Director & CEO Anshuman Singh said.
He further said: “It will enable FSC to address the frozen, chilled and cold warehousing requirements, coupled with the refrigerated container transportation requirements across the country.”
Delhi-headquartered Brattle Foods was started in 2009 by Harvard graduates Kunal Agrawal, Mrinal Sinha and Kiran Pendri. It is the second-largest player in the food logistics segment after Snowman Logistics.
Snowman had raised a little over Rs 200 crore through an initial public offerings last month.
This merger and acquisition will create immediate capability to serve Future Group’s recently set up 110-acre food park on the outskirts of Bangalore and the two planned projects in West Bengal and Madhya Pradesh.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.