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Read more about Future Group acquires Snapdeal\'s logistic arm Vulcan Express for Rs 350 mn on Business Standard. Future Group operates over 22 million square feet of retail space in 255 cities pan-India

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future group acquires snapdeal s logistic

Future Group acquires Snapdeal's logistic arm

Vulcan Express for Rs 350 mn

Future Group on Friday said it has acquired Jasper Infotech-owned Snapdeal's

logistics arm Vulcan Express at Rs 350 million.

"Jasper Infotech, which also owns Snapdeal... has entered into an agreement with

Future Supply Chain Solutions... to sell 100 per cent stake in Vulcan Express Pvt

Ltd in an all-cash deal valued at Rs 350 million," a Future Group statement said.

Vulcan Express, which services the logistics requirements of Snapdeal, Airtel and

UPS, is focused on e-commerce and high-value business-to-business logistics.

"Through Vulcan, we plan to boost our last mile capabilities and also offer state-

of-the-art solutions to our e-commerce and retail clients, including realising our

disruptive vision of retail 3 0 said kishore

disruptive vision of Retail 3.0," said Kishore Biyani, Founder and Chairman, Future

Group.

"Similar to our recent sale of FreeCharge, we believe Snapdeal's sale of Vulcan

Express to Future Group is a successful deal for all three parties," said Jason

Kothari, Chief Strategy and Investment Officer, Snapdeal, who also led the sale of

Snapdeal-owned FreeCharge to Axis Bank.

Future Group operates over 22 million square feet of retail space in 255 cities

pan-India.

Article By - Business Standard