Tata, Reliance, DMart Reportedly in Talks to Acquire 24Seven from Godfrey Phillips
April 17, 2024 at 08:42 am EDT
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Godfrey Phillips India Limited (BSE:500163), backed by the KK Modi group, is in discussions with Tata Trent Limited (BSE:500251), Reliance Retail Limited, and Avenue Supermarts Limited (NSEI:DMART) for a potential sale of its retail grocery chain, 24Seven, The Economic Times (ET) reported. The outcome of the talks will depend on the valuation, the business daily said, citing sources. The leadership of the (Modi) group had started discussions with entities that showed clear synergies and these are said to be currently ongoing, at different stages.
In an exchange filing on April 12, Godfrey Phillips India had disclosed its plan to divest of the loss-making 24Seven convenience chain after a thorough review of its retail business division.
Trent Limited is an India-based company, which is engaged in the business of retailing / trading of merchandise. The Company is engaged in retailing / trading of apparels, footwear, accessories, toys, games others. It operates through Westside, Zudio, Utsa, StarHypermarket, Landmark, Misbu / Xcite, Booker Wholesale and ZARA retail formats. Its flagship format, Westside offers apparel, footwear and accessories for men, women, and children, along with furnishings, decor, and a range of home accessories. Its family entertainment format, Landmark offers a range of toys, front list books and sports merchandise. Its value retail format, Zudio caters to apparels and footwear for men, women, and children. Its modern Indian lifestyle format, Utsa offers ethnic apparel, beauty products and accessories. The Company's hypermarket and supermarket store chain operating under Star Market concept offers an assortment of products, including staples, beverages, health, and beauty products.
TRENT LIMITED 
