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Kishore Biyani owned Future Supply Chain will acquire Delhi-based logistics start-up firm Brattle Foods for an undisclosed amount.
Future Supply Chain said the acquisition would enable the company to tap into the frozen, chilled and cold warehousing requirements.
Anshuman Singh, Managing Director, Future Supply Chain said this will also help create the capability to serve Future Group’s newly established 110-acre food park near Bangalore.
As per the agreement, Brattle Food will merge with Future Supply Chain, and shareholders GTI Capital and Epiphany Ventures will get some shareholding in the Future Group company. Brattle was started by Harvard graduates Kunal Agrawal, Mrinal Sinha and Kiran Pendri. It is the second largest player in the food logistics segment after Snowman Logistics. Currently, 50 per cent of the company’s revenue comes from other retailers and fast moving consumer goods players (FMCG).
“The acquisition will help us strengthen our position in the FMCG and food business,” he added in a statement. Future Supply Chain has four lines of businesses, including contract logistics, express transportation, international logistics and brand distribution.
Future Supply Chain is a joint venture between Hong Kong-based trading firm, Li & Fung and the Future Group.
The Hong Kong-based entity owns 26 per cent stake.
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