Aditya Birla Group Business director, apparel and retail business, Pranab Barua said, " The acquisition of Total Superstore Business is a good strategic fit for ABRL
in terms of its store locations and catchment areas.
ABRL is an operator of supermarkets and hypermarkets in India.
While ABRL, along with its wholly-owned subsidiary Trinethra Superretail Private Ltd, has been in an expansion phase and was expected to incur losses over the medium term, the company's operating performance has been below estimates.
In fact, ABRL
closed about 40 of its supermarket stores at various locations because of high rentals.
He is targeting to get ABRL counted among the top five retailers by 2015.
ABRL expects revenue of Rs 1,450- 1,500 crore this fiscal.