Future Group food and FMCG arm Future Consumer Ltd has formed a 50:50 joint venture with the UK's largest wholesaler, Booker Group, to expand and develop Booker India.
As part of the agreement, Future Consumer Limited (FCL) and Booker Group will invest jointly to scale up the network to service merchandising requirements of neighbourhood retailers pan India, a Future Group statement said.
Booker Group, which had entered India in 2009, has a network of six Cash & Carry stores in Maharashtra and Gujarat. It currently operates out of four locations in Mumbai and one each in Pune and Surat, it added.
Commenting on the development, FCL Vice-Chairman Kishore Biyani said: "Booker India has developed one of the lowest cost distribution networks for FMCG products through its cash and carry network in India. We are now happy to join hands with Booker to leverage their expertise in engaging with small, neighbourhood retailers and reach out to them with the FMCG brands and products being developed by our organization."
Booker Group Chief Executive Officer Charles Wilson said: "Together Booker and Future Group can scale up the business and reach out to a much larger number of retailers and customers in India".
Booker Group is the UK's leading food wholesaler offering branded and private label goods which are sold to over 900,000 customers.
The Group now comprises Booker Wholesale, Makro, Booker Direct, and Booker India, among others. The Group currently trades from 200 branches in the UK. Booker Group had posted revenues of around GBP 5 billion in 2015.
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