Aditya Birla Group to buy Jubilant’s Total Superstore

BENGALURU: The Aditya Birla Group has agreed to acquire Total Superstore, the retail division of Jubilant Agri & Consumer Products, for an undisclosed amount.

On Monday, the board of directors of Aditya Birla Retail Ltd (ABRL) approved the deal, which “is a good strategic fit for ABRL in terms of its store locations and catchment areas”, Pranab Barua, business director for apparel and retail business at the Aditya Birla Group, said in a news release.

Under the all-cash deal, ABRL will acquire the leasehold rights for four hypermarkets of Total in Bengaluru, along with movable and immovable assets.

Shares of Jubilant Industries, the parent of Jubilant Agri & Consumer Products, ended 10% higher at Rs 163.90 on the Bombay Stock Exchange on Tuesday, compared with a 2.3% fall in benchmark Sensex.

Earlier this month, the Aditya Birla Group had announced the merger of its apparel business into a Rs 5,290 crore entity, named Aditya Birla Fashion & Retail.