India’s Reliance to acquire several brands in $6.5 billion consumer goods play
Reliance, India’s biggest retailer, will acquire dozens of small grocery and non-food brands as it aims to build its own $6.5 billion (THB224.4 billion) consumer goods business to challenge foreign giants such as Unilever and Coca-Cola, according to sources.
The company is in the final stages of negotiations with around 30 popular local consumer brands to fully acquire them to form joint venture partnerships, said one source familiar with its business planning.
The total investment planned by the company is not clear, but Reliance had set a goal to achieve $6.5 billion in annual sales from the business within five years.
“Reliance will become a house of brands,” one of the sources said. “With the new business plan, Reliance is seeking to challenge some of the world’s biggest consumer groups, such as Nestle, Unilever, PepsiCo and Coca-Cola, which have been operating for decades in India.”
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