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Reliance to acquire Ravalgaon's confectionery business with brands Pan Pasand, Mango Mood
Reliance Consumer Products Limited (RCPL) is set to acquire Ravalgaon's confectionery business for Rs 27 crore.
RCPL has ambitious plans to establish itself as a prominent player in the FMCG segment. RCPL launched its own consumer packaged goods brand called Independence and had also acquired the iconic home-grown soft drink brand Campa cola. (Image source: Facebook)
Reliance Consumer Products Limited (RCPL) is set to buy Ravalgaon's confectionery business for Rs 27 crore, bagging legacy candy brands such as Pan Pasand and Mango Mood.
Eighty-two year old brand Ravalgaon Sugar Farm, known for its sugar boiled confectionery products such as Mango Mood, Tutty Fruity, Choco Cream, and Supreme, has sold its trademarks, recipes, and all intellectual property rights associated with its confectionery business to RCPL. This strategic move marks a significant expansion for Reliance Consumer in the FMCG sector.
"The Board, on the recommendation of the audit committee of the company, inter alia approved the sale, transfer and assignment of the trademarks, recipes, all intellectual property rights, including all rights, interests, and protections associated therewith, relating to the company’s sugar boiled confectionery business to Reliance Consumer Products Limited, for a consideration of Rs27 crore," The Ravalgaon Sugar Farm Ltd said in a filing to the exchanges.
Ravalgaon will continue to hold all other assets such as property, land, plant, building, equipment, machinery, etc. post completion of the proposed transaction, the company said in its filing. The transaction is expected to be completed by the end of March.
RCPL has ambitious plans to establish itself as a prominent player in the FMCG segment. RCPL launched its own consumer packaged goods brand called Independence and had also acquired the iconic home-grown soft drink brand Campa cola.
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