The takeover of more brands in the FMCG space is in line with the company’s strategy, according to a person in the know of the matter. On August 29 during the 45th AGM of Reliance Industries, Isha Ambani, the director of Reliance Retail, announced that the company will launch their FMCG business this year.
New Delhi: As part of industrialist and India’s second richest man Mukesh Ambani-controlled Reliance Industries’ (RIL) plan to expand the fast-moving consumer goods (FMCG) business, the company is soon to takeover a couple of FMCG brands.
For the same, RIL is in discussions with CavinKare to take over Garden Namkeens from and others like Lahori Zeera and Bindu Beverages. Reliance is at an “advanced stage” of negotiations with all three companies, people in the know of the development told Economic Times.
This comes just a few days after the Ambani-led company acquired homegrown iconic soft drink soft drink brand Campa from Delhi-based Pure Drinks Group in a deal estimated at Rs 22 crore.
On August 29 during the 45th AGM of Reliance Industries, Isha Ambani, the director of Reliance Retail, announced the plans for their FMCG business saying that the company will launch their fast-moving consumer goods (FMCG) business this year.
“I am excited to announce that this year, we will launch our fast-moving consumer goods business. The objective of this business is to develop and deliver high quality, affordable products which solve every Indian’s daily needs,” she said.