The acquisitions are part of the group’s strategy to grow its private labels business in foods, which has already achieved in excess of Rs 100 crore (over NZ$30 million).
Future group had embarked on a strategy to boost its private label brand business, which has achieved a scale in excess of Rs 100 crore. It plans to more than double its private labels business in foods.
Pantaloon’s move is indication of the rapid growth in India for processed foods and current trend towards private labels in the retail sector.
Source: The Times of India
