Future Retail, which owns the Big Bazaar retain chain, is discussing with HyperCity Retail, part of the K Raheja Corp Group, for a possible merger between the two. All discussions now are exploratory in nature as the company keeps on evaluating possible business associations and transactions, the Kishore Biyani-owned company said in a regulatory filing.
HyperCity has 20 stores in Delhi, Noida, Hyderabad, Mumbai, Bengaluru, Bhopal, Ludhiana, Amritsar, Jaipur, Pune, Ahmedabad and other cities. K Raheja Corp Group also operates retail chains under Shoppers’ Stop and Crosswords in India.
Biyani’s Future group had earlier acquired Bharti Retail, South India-based convenience store chain Nilgiris and the 136 retail stores of Heritage Food in Hyderabad, Chennai and Bengaluru.