Kishore Biyani's Future Group has picked up 70% stake in Godrej Aadhaar. The stake has been bought for an undisclosed amount by Future Ventures.Arvind Choudhury will be handling the business from Future Group, CEO Kishore Biyani told PTI. "Aadhaar Retailing will now have a board for joint management," Godrej Agrovet CEO Balram Yadav said.Biyani and Balram both declined to divulge the deal amount. "The tie-up is mainly to increase the penetration of our insurance business, micro-finance, credit business and sourcing of agri-products," Biyani said.Future Ventures' participation in Godrej Aadhaar will result in a stronger rural retailing business by combinig Future Ventures' retailing expertise with Godrej Agrovet's experience in rural marketing, Yadav said."We are trying to create more value by combining two big groups. Future has excellent knowledge of retailing while Godrej has good reach of rural consumers. The benefits are mutual for both the companies," Yadav said.
