Thursday, November 19, 2009

Pantaloon Retail eyes small food cos



The Future Group-owned Pantaloon Retail is looking at acquiring small foods companies in India to bolster its portfolio in the category.

‘‘We are in talks with several small companies in the foods domain. These are Indian companies and have a clearly demarcated role to play,'' said Kishore Biyani, founder and CEO, Future Group.

Though Biyani refused to divulge the names of companies with which the group has initiated talks, industry sources said that it could be an existing third-party supplier from whom the group sources products. ‘‘With an existing supplier, the group would already be aware of the pitfalls involved in the company,'' said a source.

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. The move comes in sync with the large thrust given to its private labels FMCG business.

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