Future-Heritage deal likely to be announced today: Sources

Sources tell CNBC-TV18 that Future Group could be announcing its acquisition of Heritage Foods’ retail outlets today. It is believed to be a share swap deal. The ratio will be decided today.

Future Group has been in discussions to buy the retail business of Heritage Foods. The buyout will give Kishore Biyani dominion over 100 grocery outlets in Hyderabad, Chennai and Bengaluru.

The Rs 2,381-crore Heritage Group was founded in 1992 by N Chandrababu Naidu, who is chief minister of Andhra Pradesh.  This deal, if it happens, will mark Biyani's fourth acquisition in as many years, as the group has been on a consolidation spree, particularly in grocery retail. Watch accompanying video for more details...