Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries Ltd, in August announced acquiring the retail, wholesale, logistics and warehousing businesses of the Future Group for ₹24,713 crore. The former will have access to 1,800 stores across the group’s Big Bazaar, FBB, Easyday, Central, Foodhall formats across 420 cities. The acquisition was done as part of the scheme in which Future Group merged its grocery, apparel, supply chain and the consumer businesses into Future Enterprises Limited (FEL). The retail/wholesale undertaking of Future Group will be transferred to Reliance Retail and Fashion Lifestyle Limited (RRFLL), a subsidiary of RRVL.

PVH completes sale of Speedo North America to Pentland

Advertisement

PVH Corp in April completed the sale of its Speedo North America business to Pentland Group, parent company of Speedo for $170 million in cash, subject to a working capital adjustment. Pentland owns and invests in retail and wholesale businesses in sports fashion sectors. The proceeds from the transaction will bolster PVH’s core balance sheet strength and add to its liquidity position that stood at $1.3 billion in cash+ available borrowings. Pentland, which also owns the Berghaus, Canterbury, Ellesse and SeaVees brands, acquired Speedo in 1991 and directly and through partnership with licensees like PVH has developed it into the leading performance swimwear brand.

Aptos takes over Revionics

VF Corp signs deal to acquire streetwear brand Supreme

Turkish SY International buys French apparel brand Naf Naf

Authentic Brands announces acquisition of Forever 21

Tiffany, LVMH modify merger price

UK brand TM Lewin acquired by private equity firm SCP

Grupo de Narváez acquires Walmart Argentina

Issa brothers, TDR Capital to acquire Asda from Walmart

Mohsin Issa and Zuber Issa, founders of UK-based global convenience and forecourts retailer EG Group, and investment funds managed by UK-based private equity firm TDR Capital in October acquired Walmart’s wholly-owned UK business Asda, for an enterprise value of £6.8 billion on a debt-free and cash-free basis, the four stakeholders recently announced. Under the new ownership structure, the Issa brothers and TDR Capital are acquiring a majority ownership stake in Asda. Walmart will retain an equity investment in the business, with an ongoing commercial relationship and a seat on the board.

To read more subscribe to January 2021 edition of Fibre2Fashion.

For queries & brickbats, write to: richabansal@fibre2fashion.com

Fibre2Fashion News Desk (RKS)