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Future Group acquires Shoprite
22 March 2010: The Future Group has acquired the lone India franchisee store of South Africa's biggest grocery chain, Shoprite Holding, and renamed it Foodrite.
The store is spread over 55,000 sq feet with a bakery. However, the group did not disclose the amount at which it acquired the store from Shoprite Holdings. Shoprite sold multi-brand products in India through franchisee agreement with Mumbai-based property developer, Nirmal Lifestyle.
Source: Economic Times