Vijay Sales buys TMC, makes southern foray

Hyderabad, Apr 5: Mumbai-based electronics retailer Vijay Sales has just wrapped up its first-ever acquisition with the buyout of Hyderabad-based electronics retail chain TMC Electronics for an undisclosed amount.
The buy gives Vijay Sales an immediate foothold in the lucrative south market with TMC’s chain of 19 stores.
According to sources, the deal, which runs into three-digit figures, was inked with the Gupta family of Vijay Sales buying out all four promoters from the Nangunuri family, which controlled TMC Electronics.