27th May 2023: Mumbai, India – Reliance Consumer Products, the fast-moving consumer goods (FMCG) arm of Reliance Retail, has announced its acquisition of a controlling stake in Lotus Chocolate Company, a renowned name in the Indian chocolate industry.
The deal, which was finalized on May 27th, marks Reliance Retail’s strategic expansion into the confectionery sector.
Lotus Chocolate Company, known for its premium quality chocolates and diverse product range, has garnered a strong foothold in the Indian market over the years.
The company’s commitment to excellence, innovation, and customer satisfaction has made it a trusted brand among chocolate enthusiasts.
Reliance Consumer Products, a subsidiary of Reliance Retail, aims to leverage Lotus Chocolate Company’s established brand and expertise to further strengthen its presence in the FMCG sector.
With this acquisition, Reliance Retail endeavors to diversify its portfolio and tap into the growing demand for indulgent food products.
Mr. Mukesh Ambani, Chairman and Managing Director of Reliance Industries, expressed his excitement about the partnership, stating, “We are delighted to welcome Lotus Chocolate Company into the Reliance family.
Their exceptional products and extensive distribution network align perfectly with our vision to provide high-quality consumer goods to every Indian household.
This strategic move will contribute to the growth of our FMCG business and enhance our capabilities in the confectionery segment.”
Lotus Chocolate Company will continue to operate as an independent entity, benefitting from Reliance Retail’s resources, scale, and operational expertise.
The existing management team at Lotus Chocolate Company will remain in place, ensuring a seamless transition and continuity of the brand’s core values.
Commenting on the acquisition, CEO of Lotus Chocolate Company, said, “We are excited to join hands with Reliance Consumer Products.
This partnership opens up new avenues for growth and enables us to reach a wider audience. With Reliance’s support, we look forward to expanding our product offerings, investing in R&D, and enhancing our distribution network.”
The acquisition of Lotus Chocolate Company aligns with Reliance Retail’s overall strategy to diversify its business portfolio and reinforce its position in the Indian retail market.
As Reliance continues to explore new avenues for growth, industry experts anticipate further strategic acquisitions and partnerships in the near future.
Financial details of the transaction have not been disclosed by either party involved. The acquisition is subject to regulatory approvals and customary closing conditions.
About Reliance Retail: Reliance Retail is a subsidiary of Reliance Industries Limited, India’s largest private sector company.
With a widespread presence across various sectors, including consumer electronics, fashion, grocery, and now FMCG, Reliance Retail is renowned for its commitment to delivering quality products and excellent customer service.
About Lotus Chocolate Company: Lotus Chocolate Company is a leading Indian chocolate manufacturer, recognized for its superior quality and rich flavors.
With a wide range of products, including bars, truffles, and personalized gift packs, Lotus Chocolate Company has established a strong presence in the Indian confectionery market.
Disclaimer: This news release is for informational purposes only. Any views or opinions expressed in this article are solely those of the mentioned individuals and do not represent the official statements or positions of Reliance Retail or Lotus Chocolate Company.
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