The Kishore Biyani-led company is reportedly in advanced discussions to buy Iraya from Athena Life Sciences
Future Group is in advanced talks to purchase ayurveda company Iraya from Athena Life Sciences, The Economic Times reports.
The acquisition of Iraya would help Future Group gain a foothold in the ayurveda market and give competition to Baba Ramdev's Patanjali.
The company plans to enter almost every FMCG category in the ayurveda segment. The product would be launched under Future Consumer, a source told The Economic Times .
Moneycontrol could not independently verify the news.
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Iraya sells a range of personal care products, and its brands include Hair for Sure and D'Free.
Biyani had said two months ago that Future Group is eyeing acquisitions in the ayurveda space, The Economic Times reports.
Kishore Biyani's Future Group has plans for aggressive expansion, with a aim to open 1,000 small stores in India over the next 12-15 months.