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HomeBusinessReliance buys 82-year-old Ravalgaon candy brand

Reliance buys 82-year-old Ravalgaon candy brand

TNN / Feb 10, 2024, 04:49 IST

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Reliance buys 82-year-old Ravalgaon candy brand

MUMBAI:

Reliance

Consumer Products, the

FMCG

arm and a subsidiary of Reliance Retail Ventures, has acquired the trademarks, recipes and intellectual property rights of

Ravalgaon

Sugar Farm’s confectionery business in a Rs 27-crore deal. The details were disclosed by Ravalgaon in an exchange filing on Friday.
RCPL has been expanding its footprint in the market through a mix of acquisitions and partnerships.

The latest

acquisition

will add to its FMCG portfolio that includes brands like Campa, Toffeeman and Raskik, widening the product basket for consumers. The 82-year-old Ravalgaon brand owns nine confectionery labels like Pan Pasand and Coffee Break. As FMCG companies compete for a larger share of the consumer’s wallet, they have been attempting to ramp up product portfolios with acquisitions to get more customers. RCPL did not issue any statement.
A dwindling market share on the back of surging competition from both organised and unorganised industry players prompted Ravalgaon to make the move.

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