L&L Partners leads on Reliance Industries acquisition of ITC’s John Players

The retail unit of Reliance Industries has acquired menswear brand John Players from ITC..This will add Rs. 350 crore to Reliance Retail’s value fashion business carried out through Reliance Trends and Ajio.com, reported ET..L&L Partners acted for Reliance Industries with a team led by Partners Deepak THM and Nirupam Lodha along with Managing Associate Vivek Pareek and Reshma Vaidya and Associate Ayushi Harsh..As part of the deal signed last week, estimated at about Rs 150 crore, Reliance has acquired the assets of John Players, which includes the brand and distribution rights through 750 stores, including 65 exclusive franchise outlets..The acquisition will help Reliance bolster its own-brand apparel business, which will be an important element of its upcoming e-commerce business