: Reliance is progressing on the path of continuous growth in business. Reliance Consumer Products Limited (RPCL) walked on the path of acquiring another company at the end of this year while maintaining that ratio. According to information received in this context, Isha Ambani-led RCPL is going to acquire 51 percent of chocolate manufacturer Lotus Chocolate Company.
This acquisition will be completed for a total of 74 crore rupees. Besides, another 26 percent acquisition from the open market has also been announced. Lotus Chocolate Company has already completed an agreement with Reliance Consumer Products Limited in this context. Meanwhile, Isha Ambani, Executive Director of Reliance Retail Ventures Limited, said in a statement that this step is part of Reliance’s plan to grow the market for domestically produced quality products.
Besides, Lotus Chocolate has already maintained its position in the production of chocolate and coca products. In this case, through this acquisition, an opportunity can be created to reach a larger number of customers at a lower price. Isha also said, “We look forward to working together with the experienced management of Lotus. Gradually we will look at the next phase of commercial expansion.”
It should be mentioned that this investment in the FMCG sector of Reliance Industries (Reliance Industries) will increase the occupation of Reliance in this sector to a large extent and will also give Lotus an opportunity to highlight its commercial activities in a better way. Basically, these two parties will aim to prepare all products like coca, confectionery, chocolate for commercial and consumer market.
In this situation, Lotus CEO Abhijit Pai said that they are very excited to complete such an agreement with a company like Reliance. He also said that efforts have always been made on their behalf so that the company can achieve a significant place in the production of chocolate and cocoa products. He also said that the whole matter will be possible through the agreement with Reliance.
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Incidentally, RCPL will soon announce the purchase of 26 percent shares of Lotus from the open market. According to sources, 33.38 lakh equity shares will be bought from the open market as per SEBI norms. Meanwhile, according to statistics, Lotus posted net sales of Rs 87 crore in March 2022. Out of which the amount of net profit is Rs.6 crores.