Reliance Industries has agreed to buy Future Group’s retail business across apparel, lifestyle and grocery segment, a deal that will help the Mukesh Ambani oil-to-media firm control more than a third of India’s organised retail market. The acquisition including Reliance taking over all debts, liabilities, retail stores and a minority stake in its consumer business, with an investment of about Rs27,513 crore, involves merger of five Future Group’s listed entities including Future Retail , Future Lifestyle and Future Consumer – into Future Enterprises (FEL), which currently houses the group’s retail back-end infrastructure.