[ad_1]
Reliance Retail Limited (RRL) is spreading its wings aggressively. After completing the acquisition of soft drink brand Campa earlier this month, Reliance Retail is planning to add more fast-moving consumer goods brands to its portfolio. The company is expected to enter into a deal with AJE India, which makes carbonated beverage brand Big Cola, besides acquiring Indore-based Aakash Namkeen Pvt. Ltd, a report in Mint said. The acquisition is in line with the group’s plan to venture into all FMCG segments. At the August general meeting this year, Reliance Industry Limited chairman Mukesh Ambani hinted that all efforts will be made to make RRL the largest revenue segment of the company.
Big Cola and Aakash Namkeen
The AJE Group is a Peru-based company that operates its India business from Pune. It produces soft drinks like Big Cola, Big Orange, energy drink Volt and beverage brand Cfruit. As per the report, RRL is planning to cash on in its existing manufacturing infrastructure and distribution network across cities.
Aakash Namkeen manufactures savories, such as ratlami sev, chivda and bhel, and packaged traditional sweets including Besan Ke Ladoo, Gulab Jamun, and Soan Papdi.
Other acquisitions
Earlier it was reported that the group had acquired the famous Campa brand from New Delhi-based Pure Drinks Group for an estimated amount of Rs 22 crore, along with beauty products brand Insight Cosmetics. Besides, the group is reportedly in talks with several companies like popular spice maker Mahashian Di Hatti (MDH), Garden Namkeens, Lahori Zeera, and Bindu Beverages for possible deals in their respective segments.
On August 29, at the company’s 45th annual general meeting, Isha Ambani, who is leading the retail business of Reliance, said that its objective is to develop and deliver high-quality, affordable products, which would solve every Indian’s daily needs. Reliance’s retail business had revenues of almost Rs 2 lakh crore in FY22, which is only second to the oil-to-chemicals segment which earned around Rs 5 lakh crore last fiscal.
With this aggressive acquisition drive, the company is expected to compete with industry majors, like Hindustan Unilever, Dabur, Nestle, and Marico.
[ad_2]
Source link
