Future Retail will sell 14% stake in Future Supply Chain Solutions (FSC). SSG Capital Management Group is investing up to Rs 580 crore to acquire 40% stake in FSC from the existing shareholders of the company at a valuation of up to Rs 1,450 crore. This will include 14% stake to be acquired from Future Retail (FRL) and the management team collectively, and 26% from another minority shareholder SKC 1 (SKC).
SKC is part of Fung Capital, the private equity investment arm of the families of Dr. Victor Fung and Dr. William Fung, the controlling shareholders of the Fung Group with businesses in trading, logistics and retailing. The consummation of this transaction is subject to fulfillment of certain conditions precedent and applicable regulatory approvals, if any.
FSC was incorporated in April 2007 and is promoted by FRL. It is India’s first fully integrated and IT enabled end to end Supply Chain and Logistics Company with capabilities in handling Modern Warehousing, Express Logistics, Cold Chain and E-Commerce Logistics. FSC caters to distinct requirements of categories including Food & Beverages, Apparel, Lifestyle, Consumer Electronics & High Tech, Automotive & Engineering, Home & Furniture, Healthcare, General Merchandise and E-Commerce.
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