Mumbai: Reliance consumer Product, FMCG Arm and Reliance Retail Ventures subsidiary have acquired the trademarks, recipes and intellectual property rights Rawalgaon Sugar Farm’s confectionery business a deal worth Rs 27 crore. The details were disclosed by Rawalgaon in an exchange filing on Friday.
RCPL is expanding its footprint in the market through a mix of acquisitions and partnerships. latest acquisition Will add brands like Campa, Toffeeman and Russik to its FMCG portfolio, thereby expanding the product basket for consumers. The 82-year-old Rawalgaon brand has nine confectionery labels like Paan Pasand and Coffee Break. As FMCG companies compete for a larger share of consumer wallet, they are attempting to enhance product portfolios with acquisitions to acquire more customers. RCPL did not issue any statement.
Declining market share due to increasing competition from both organized and unorganized industry players prompted Rawalgaon to take the step.