Future Group May Acquire NCR Based Big Apple Chain Of Grocery Sores
by Irfan Khan
Future Group may acquire NCR based Big Apple chain of food and grocery stores, reports BS. Though the exact valuation is not known, the final deal size could be close to R250Cr.
Big Apple Chain is owned by Express Retail Services Ltd, a joint venture of Lalwani Holdings and the Chaurasia Group. The company started operations in 2005. It had also planned to open 100 stores by August, 2007, by expanding in Karnataka and Gujarat. But the plans did not go through. It currently operates 65 stores in and around NCR.
The company recently forayed into home delivery format under 'Day2Day' brand. With the new format, the company is eyeing a customer base of around two lakh families in Delhi and NCR in the next 30 months targetting revenues of R400Cr.