Pantaloon Retail, Blue Foods to form JV

Looking to set up food courts and specialty restaurants across the country, leading retailer Pantaloon Retail India Ltd has decided to form a joint venture company with Blue Foods Pvt Ltd.

The company on Monday entered into a memorandum of understanding with Blue Foods, which runs various restaurants across the country, to forge the 50:50 JV company, Pantaloon Retail informed the Bombay Stock Exchange.

Shares of the Pantaloon Retail were trading at Rs 1,250, up 1.79 per cent on the Bombay Stock Exchange.