Tesco Enters Joint Venture with Tata in India
UK-based retailer Tesco has entered into an agreement with Trent Ltd, part of the Tata Group, to form a 50:50 joint venture in Trent Hypermarket, which operates the Star Bazaar retail business in India. Tesco’s investment will be around £85 million.
On completion of the transaction THL will operate 12 stores retailing a range of merchandise including food and grocery, personal and home care products, home and kitchen, fashion and accessories etc. The stores are operated under the ‘Star Bazaar’ and ‘Star Daily’ banners, and spread across the Southern and Western regions ofIndia.
Since 2008 Tesco has had a wholesale supply and franchise /technical service agreement to supply merchandise and provide technical knowhow and support to THL in India.
