Friday, May 11, 2012
BANGALORE (Dow Jones)--Amsterdam-headquartered food retail chain SPAR International and Max Hypermarket India Pvt. Ltd. won't renew their license agreement for India after 2012, the companies said in a joint statement.
Max Hypermarkets, part of the Dubai-based retailer Landmark Group, currently runs 13 SPAR Hypermarkets in India via a license agreement with SPAR.
SPAR is looking to enter into new partnerships with local retailers to expand its presence in India, the companies said Thursday.
Max Hypermarkets said it is also in talks with potential partners to expand its business in India.
SPAR usually doesn't invest in any of the countries it operates in, choosing to get into licensing agreements with local retailers.
Landmark Group also operates Lifestyle department stores, Max apparel stores and Home Centre stores that sell home furnishing products in India.
--By Rumman Ahmed, Dow Jones Newswires; 91-9845104173; rumman.ahmed@dowjones.com
(END) Dow Jones Newswires
11-05-12 0309GMT
