Reliance to acquire 51% in Lotus Chocolate

On Thursday, Reliance Consumer Products (RCPL), the FMCG branch of Reliance Retail Ventures, declared their acquisition of 51% stake in Lotus Chocolate for Rs 74 crore.

RCPL is making an open offering to the public shareholders of Lotus so they can acquire up to 26% ownership. Furthermore, RCPL and certain promoter group entities of Lotus will be subscribing for 5,07,93,200 non-cumulative redeemable preference shares with a face value of Rs 10 each at par. This news was released in the company’s statement today.

With the new capital backing, Lotus is aiming to become a full-fledged manufacturer of chocolate and related derivatives for both industrial and consumer markets. This exciting venture will allow RCPL to broaden their reach into more sectors than ever before.

With great enthusiasm, Isha Ambani — Executive Director of Reliance Retail Ventures — professed:

“Reliance is excited to partner with Lotus, who have created a strong cocoa and chocolate derivatives business through sharp business acumen and perseverance. The investment in Lotus underlines our commitment to further boost indigenously developed daily use high quality products, to serve a broad customer spectrum at affordable prices.”

Recently, Reliance Consumer Products Limited (RCPL) unveiled its new consumer packaged goods brand ‘Independence’ in Gujarat with the goal of a national rollout. As part of their venture into the Fast-Moving Consumer Goods (FMCG) segment, Reliance has acquired vintage Indian soft drink brand Campa and is now reportedly negotiating to purchase Garden, Lahori Zeera and Bindu Beverages too!

Through its extensive network of 16,500 owned stores and over two million merchants across numerous retail categories such as grocery, electronics, apparel, pharmacy and more, Reliance Retail Ventures—the retail arm of Reliance Industries—has created an unbeatable omni-channel experience. Whether it be Jio Mart or Ajio or Netmeds or Zivame and other online channels – the possibilities are truly endless when you’re shopping with us!

In the business-to-business industry, Reliance Retail recently made a bold move by acquiring 100% of Metro Cash & Carry for an impressive Rs 2,850 crore.

With the acquisition of Lotus Chocolate, Reliance Retail Ventures is moving in an even more ambitious direction to become a leader in FMCG and beyond.

Lotus Chocolate’s portfolio comprises various products such as chocolates, wafers, milk powder and other derivatives made with cocoa. It will be interesting to see how this partnership develops and what other innovative products will come out of it.

Keep your eyes peeled for more updates from Reliance Retail Ventures!

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