Reliance Retail planning to acquire franchise rights for cafe restaurant chain ‘Pret a Manager ‘RELIANCE - 2431 Change: -165.10 (-6.36 %)
News: As per media reports, Reliance Retail, the retail venture of Reliance Industries, is in talks with UK's premium coffee and sandwich chain, Pret a Manger, for an exclusive franchise partnership.
Views: Reliance Retail has been on the lookout for potential buyouts and tieups in the food and beverage spaces across various customer-facing segments including retail and hospitality. This will be Reliance Retail's second attempt to strike a deal with a large cafe-restaurant business. The company had held talks last year to buy out sandwich chain Subway Inc's India franchise rights but the deal did not fructify. If the proposed deal is formalised, it will pave the way for Reliance Retail's entry to the fast-growing cafe and restaurant sector in India and widen and diversify Reliance Retail presence in consumer facing businesses