4 January 2007
Considering its overall portfolio strategy and long-term growth plans, the Aditya Birla Group has decided to make a purposeful and well considered move into the retail sector. As a first step in this direction, the Group has acquired a significant majority shareholding in Trinethra Superretail Limited from India Value Funds.
Trinethra Superretail Limited is a leading supermarket and convenience chain with over 170 stores under the Trinethra and Fabmall brands. Its operations span across the four states of Andhra Pradesh, Tamil Nadu, Karnataka and Kerala. Trinethra has around 2500 employees and enjoys a strong consumer franchise in all the states in which it operates.
"The acquisition demonstrates our intent to be one of the leading players in the Indian retail industry. Going forward, we will commit the necessary resources in terms of funds, efforts and people to build a long-term, sustainable and successful retail business. We look forward to delivering an outstanding retail experience to Indian consumers," says Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group.
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