CCI by its order dated July 29, 2015 approved the proposed acquisition of four ‘Total’ stores of Jubilant Agri and Consumer Products Limited (JACPL) in the city of Bengaluru by ABRL on a slump sale basis. 

ABRL is engaged in the retail business and operates supermarkets and hypermarketsunder the brand name ‘more’. Apart from the retail business, it is also engaged in certain other activities such as holding investments, owning and leasing properties etc. ABRL operates hypermarkets and supermarkets in many states and union territories in India including 55 such retail stores in the city of Bengaluru. The retail stores of ABRL deal in following broad categories of products, viz., Grocery (including fruits and vegetables, staples etc.) general merchandise, consumer durables and IT, apparel & footwear and tobacco and tobacco related products. 

JACPL is a wholly-owned subsidiary of Jubilant Industries Limited (JIL), is stated to be engaged in the businesses of agri-products, performance polymers, consumer products, food polymers, latex and retail operations. JACPL operates Target stores under the brand name 'Total' in the city of Bengaluru only. Apart from the categories of products sold by the ABRL stores, JACPL stores also sell liquor & wine, storage solutions and furniture.

The CCI noted that for combination relating to retail stores, the relevant geographic market in typically local in nature. The retail industry is typically divided into modern brick and mortar stores and traditional brick and mortar stores. For the purposes of the present assessment, the analysis was carried out based on the catchment area(5 KMS) of the four target stores. ABRL and JACPL have a combined market share of less than 5 percent in the retail market in the city of Bengaluru. It has been observed from the submissions of the Acquirer that leading Indian organized retail business players such as, Bharti’s Easyday, TATA’s Star Bazaar, Future’s Big Bazaar, D-Mart, Spencers, Godrej’s Nature’s Basket, Reliance Fresh and Reliance Mart, Spar, Hyper City, Heritage etc. are present in the city of Bengaluru as well as in the Local area. Some of these players are present in all the overlapping product categories.

Further, the unorganised retail business also exerts competitive constraint on the organised retail businesses in the city of Bengaluru. It is also stated in the notice that there are no vertical arrangements between ABRL and JACPL.