The deal is anticipated to close in the upcoming few weeks and might include the transport of Vulcan’s work force into the Future Group within their bargain, among the sources mentioned. Another origin, according to the topic, stated Future Group is excited about the deal since this may add more muscle into the retail giant’s own third party logistics operations.
The sources didn’t want to be recognized as the talks are personal.
Vulcan Express presents end-to-end logistics and supply chain solutions to retail businesses, especially e-commerce players in the nation. It works in over 100 cities throughout its distribution system. The Biyani-led group includes its third-party logistics service supplier Future Supply Chain Solutions Ltd (FSCSL) that provides automatic and IT-enabled warehousing, distribution and other logistics options.
FSCSL, that had increased Rs. 650 crore by means of IPO last month, has clients across industries such as retail, fashion, automotive and engineering, food and drink, FMCG, e-commerce, health care, electronics, and engineering.
If the deal goes through, it will also assist Snapdeal that’s looking to lose its own non-core assets in an effort to live in the hyper-competitive e-commerce marketplace that includes majors like Flipkart and Amazon. This past year, Snapdeal refused Flipkart’s acquisition deal and said it might pursue an independent strategy. In July, it consented to market its pocket Freecharge into Axis Bank to get Rs. 385 crore.