Future Supply completes acquisition of Vulcan Express
New Delhi: Kishore Biyani’s Future Supply Chain Solutions on Saturday said it has completed the acquisition of Snapdeal’s logistics service provider Vulcan Express Private Ltd.
“The company has, on February 2, 2018, completed the acquisition and purchased 100 per cent share capital of Vulcan Express Private Ltd, thereby making Vulcan as wholly owned subsidiary of the company,” Future Supply Chain Solutions said in a BSE filing.
The Rs35 crore all cash deal was announced last month. Future Group has been on an acquisition spree in the recent past. In October last year, Future Retail executed share purchase agreement (SPA) with Shoppers Stop for its Rs655 crore acquisition of Hypercity Retail in stock-and-cash deal.
Last month, Future Retail said it will fully acquire Travel News Services India (TNSI) in a Rs100 crore deal, a move which would help the company to further consolidate its retail business. Future Supply Chain is present pan-India, with 44 warehouses, 14 logistics hubs, 106 branches, and over 4.2m square feet of warehousing space.