Home
Internet
Internet News
Future Group Said to Be in Discussions to Acquire Snapdeal’s Logistics Unit

Future Group Said to Be in Discussions to Acquire Snapdeal’s Logistics Unit 4x1s6k

By Press Trust of India | Updated: 3 January 2018 19:01 IST

Highlights

The deal is reportedly pegged at Rs. 50 crores
Future Group is expected to finalise deal in coming weeks
Vulcan Express employees may be transferred to Future Group as well

ment

Snapdeal's logistics arm - Vulcan Express - for about Rs. 50 crores as the former looks to strengthen its supply chain business, according to multiple sources. The deal is expected to close in the next few weeks and may include the transfer of Vulcan's workforce to the Future Group as part of the deal, one of the sources said. Another source, briefed on the matter, said Future Group is keen on the deal as this will add more muscle to the retail giant's own third-party logistics operations. 2n6j3c

The sources did not wish to be identified as the discussions are private. When ed, both Snapdeal and Future Group declined to comment.

Vulcan Express offers end-to-end logistics and supply chain solutions to retail companies, especially e-commerce players in the country. It operates in over 100 cities through its distribution network. The Biyani-led group has its own third-party logistics service provider Future Supply Chain Solutions Ltd (FSCSL) which offers automated and IT-enabled warehousing, distribution and other logistics solutions.

FSCSL, which had raised Rs. 650 crore by way of IPO last month, has customers across sectors like retail, fashion, automotive and engineering, food and beverage, FMCG, e-commerce, healthcare, electronics, and technology.

If the deal goes through, it will also help Snapdeal which is looking to shed its non-core assets in a bid to survive in the hyper-competitive e-commerce market that includes majors like Axis Bank for Rs. 385 crore.

Comments

For the latest reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: E-Commerce

HTC U12 Render With Fullscreen Display Surfaces Online

Future Group Said to Be in Discussions to Acquire Snapdeal’s Logistics Unit 4x1s6k

Related Stories x6q4h