.jpeg)
Reliance in Talks to Acquire Majority Stake in Udhayam Agro Foods for ₹668 Crore
Reliance Industries is in talks to acquire a majority stake in Udhayam Agro Foods for ₹668 crore. This deal would be similar to Reliance's deals with Campa soft drinks and Velvet shampoo, in which the company first enters regional markets. Udhayam competes with Tata Consumer Products and MTR. Reliance Retail recently transferred its FMCG business to the new RCPL.
Reliance Industries' consumer products division is in acquisition talks for a majority stake in a ₹668 crore-valued company called Udhayam Agro Foods, which produces ‘everyday food products, snacks, and ready-to-cook breakfast mixes’. As per reports, this acquisition will be considered medium-sized.
With this deal, Reliance will be following up on other deals such as Campa soft drinks and Velvet shampoo. With these kinds of deals, a company enters a regional market before moving to a national level launch.
Chennai−based Udyams rivals other players such as Tata Consumer Products, iD Fresh Foods, and MTR in regional markets. As per reports, promoters S. Sudhakar and S. Dinkar will hold a minority stake in the firm after completing the transaction with Reliance.
Its parent company, Sri Lakshmi Agro Foods, launched Udyams Agro Foods as an unlisted private entity in July this year, with Sudhakar and Dinkar serving as its founding directors.
