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4
January 2007
Considering its overall portfolio strategy
and long-term growth plans, the Aditya Birla
Group has decided to make a purposeful and
well considered move into the retail sector.
As a first step in this direction, the Group
has acquired a significant majority shareholding
in Trinethra Superretail Limited from India
Value Funds.
Trinethra
Superretail Limited is a leading supermarket
and convenience chain with over 170 stores
under the Trinethra and Fabmall brands.
Its operations span across the four states
of Andhra Pradesh, Tamil Nadu, Karnataka
and Kerala. Trinethra has around 2500 employees
and enjoys a strong consumer franchise in
all the states in which it operates.
"The
acquisition demonstrates our intent to be
one of the leading players in the Indian retail
industry. Going forward, we will commit the
necessary resources in terms of funds, efforts
and people to build a long-term, sustainable
and successful retail business. We look forward
to delivering an outstanding retail experience
to Indian consumers," says Mr. Kumar
Mangalam Birla, Chairman, Aditya Birla Group.
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