MUMBAI: The country\'s largest supply chain company Future Supply Chains is buying food logistics startup Brattle Foods in a cash, stock and debt deal aimed at strengthening back-end processes for its nearly Rs 1,000-crore food business, a top company executive said. \"This acquisition and merger will complement the existing modern technology and automation-based supply chain capability of Future Supply Chains (FSC) in the food and FMCG domain,\"said Anshuman Singh, managing director at Future Supply Chains, which is part of Kishore Biyani-owned Future Group. \"It will enable FSC to address the frozen, chilled and cold warehousing requirements, coupled with the refrigerated container transportation requirements across the country.\"
Both companies declined to give the financial details of the deal but people aware of the matter said Brattle Foods, along with its subsidiary Laxman Logistics, will be merged into FSC for a total consideration of about Rs 125 crore. Brattle\'s shareholders GTI Capital and Epiphany Ventures will get some shareholding in FSC after the deal is signed in the next few days, they added. Delhi-headquartered Brattle, which was started four years ago by Harvard graduates Kunal Agrawal, Mrinal Sinha and Kiran Pendri, is the second-largest player in the food logistics segment after Snowman Logistics. Snowman had raised a little overRs 200 crore through an initial public offerings last month. FSC said the deal will create immediate capability to serve Future Group\'s recently set up 110-acre food park on the outskirts of Bangalore and the two planned projects in West Bengal and Madhya Pradesh.
Report date: 27.10.14