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Indian retailer Future Group to buy Heritage Foods

The Heritage Group was founded by N Chandrababu Naidu (C), the current chief minister of southern Andhra Pradesh state.? Photograph: (AFP)

New Delhi, Delhi, India Sep 19, 2016, 07.40 AM (IST)
Future Group, an Indian private conglomerate, is in talks to buy Heritage Foods, counted among one of the largest private sector dairy enterprises in Southern India, local media reported today. 

The Heritage Group that owns Heritage Foods was founded by N Chandrababu Naidu, the current chief minister of southern Indian Andhra Pradesh state. 

Heritage Foods' shares rose over 6 per cent on reports of an expected sale of its retail arm, media reports said.  However, Heritage Foods and Future Group remained unavailable for comments. 

Heritage Foods has three divisions, retail, dairy and agri and produce dairy, bakery items.

(WION with inputs from Reuters)

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