Mukesh Ambani: Mukesh Ambani's big bet, bought another company, completed acquisition of Lotus Chocolate - mukesh ambani reliance completes acquisition of lotus chocolate

New Delhi: Reliance Consumer Products Limited (RCPL), the FMCG company of Reliance Retail Ventures (RRVL), Reliance Consumer Products Limited (RCPL) has bought 51 percent stake in Lotus Chocolate Company Limited. This information has been given by the company. Reliance Consumer Products Limited (RCPL) has completed the acquisition of stake in Lotus Chocolate Company Limited for Rs 74 crore. The company has paid Rs 25 crore for non-cumulative redeemable preference shares of Lotus Chocolate. RCPL has taken over the complete control of Lotus Company.

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acquired equity shares

RCPL has also completed the acquisition of equity shares as per the open offer made under SEBI Takeover Regulations. RCPL has taken over the complete control of the company with effect from May 24, 2023. According to a statement, the capital invested by the FMCG arm of Reliance Industries will aid the growth and expansion of Lotus into a comprehensive manufacturer of confectionery, cocoa, chocolate derivatives and related products across the industrial and consumer market spectrum.

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Company’s profit

According to reports, the chocolate company has achieved a net profit of Rs 6 crore during the year ending March 2022. The company has made sales of Rs 87 crore. The acquisition of Lotus Chocolates is part of Reliance Retail’s strategy to expand its fast growing FMCG business. The firm has recently stepped into this. RRVL is a subsidiary of Mukesh Ambani-led Reliance Industries and the holding company for all retail businesses under the RIL group. Let us tell you that in the Annual General Meeting in August 2022, RIL Chairman Mukesh Ambani had announced the group’s planning to enter the fast-growing FMCG sector.

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