US retail giant Wal-Mart has remained tight-lipped on reports that the group is considering buying a stake in Indian logistics company Radhakrishna Foodland.
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According to a report in the Economic Times, Radhakrishna founder Raju Shete said: “Wal-Mart is interested in closely working with us but it is too early to comment on where the discussions will take us.”
Radhakrishna Foodland, part of the Radhakrishna Group, operates a network of distribution, logistics and back-end services for Indian retailers. It is believed that Wal-Mart may be interested in using this existing infrastructure to support its upcoming cash-and-carry joint venture with the Bharti Group.
“We are currently working on establishing our Indian business,” a spokesperson for Wal-Mart’s international unit told just-food today (24 May). “We aren’t going to reveal the specifics of our plans there until all the cogs are in place.”
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