"The company has agreed to acquire the entire equity shares of FabFurnish.Com, owned and operated by BEPL, as per the terms and conditions agreed under the share purchase agreement," Future Retail said in a BSE filing.
The company will acquire FabFurnish at a price of Rs 4.86 per share, the filing said. However, the filing did not give the number of shares the company is acquiring.
"The definitive documents are in process of being executed," the filing said, adding that the acquisition would complete in next 7-15 days.
"The object is to acquire the furniture and home furnishing business along with FabFurnish brand in the e-commerce space," it added.
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