Aditya Birla Retail Limited to acquire Total Superstore Business from Jubilant Agri & Consumer Products Limited

12 May 2015

The Board of Directors of Aditya Birla Retail Limited (“ABRL”), in their meeting held yesterday, approved the acquisition of Total Superstore Business (“Total Undertaking”), the Retail Division of Jubilant Agri &Consumer Products Limited (“JACL”).

“The acquisition of Total Undertaking is a good strategic fit for ABRL in terms of its store locations and catchment areas,” avers Mr. Pranab Barua, Business Director, Apparel &Retail Business, The Aditya Birla Group.

In line with the approved transaction, ABRL will acquire in an all cash deal, the leasehold rights for four hypermarkets of Total Undertaking in Bangalore, along with movable and immovable assets, a warehouse, an office premise, working capital, trademarks, intellectual property and other rights associated with Total Undertaking by way of a slump sale for a lump sum consideration. Total Superstore business has an aggregate retail footprint of 2.87 lakh sq. ft.

The transaction is subject to the approval of shareholders of JACL and Jubilant Industries Ltd (JIL), the parent company of JACL. Moreover, this transaction is also subject to necessary regulatory approvals including, but not limited to approval from the Competition Commission of India.

About Aditya Birla Retail Limited
Aditya Birla Retail Limited is one of India’s leading food and grocery retailers and is present in both Super Market and Hyper Market formats under the brand “more”. ‘more’ operates 482 Super Markets and 16 Hyper Markets spread over 20.1 lakh sq ft across India, ‘more’ has the second largest network of supermarkets in the country. The company posted sales of Rs.2,511 crore in FY14.