New Delhi: As part of India's second-richest man-controlled industrialist Reliance Industries (RIL)'s plan to expand its Fast-Moving Consumer Goods (FMCG) business, the company will soon acquire couple of FMCG brands.
For the same purpose, RIL is in talks with CavinKare to take over the management of Garden Namkeens and others such as Lahori Jeera and Bindu Beverages. Reliance is in an "advanced stage" of negotiations with the three companies, people familiar with the development.
This comes just days after the Ambani-led company acquired popular local soft drink brand Campa from Delhi-based Pure Drinks Group in a deal estimated at Rs 22 crore.
On August 29, during Reliance Industries' 45th Annual Meeting, Isha Ambani, Director of Reliance Retail
, announced its FMCG business plans, saying the company will launch its FMCG business this year.
"I am excited to announce that this year we will launch our FMCG business. The aim of this business is to develop and offer high-quality and affordable products that meet the daily needs of all Indians," she said.
The person added that acquiring more brands in consumer goods is in line with the company's strategy. In all three cases, Reliance is currently negotiating the terms of the agreement.
SG Corporates, the company behind Bindu Beverages, launched its Bindu Mineral Water brand of bottled drinking water in 2000 and flagship drink Bindu Fizz Jeera Masala in 2002. Meanwhile, Lahori Jeera, which was acquired in the RIL plans, also offers Varieties of assorted drinks. in flavors like Nimboo, Kacha Aam and Shikanji.
The person familiar with the development said: "There will be different structures to put in place. In some cases the brands are owned by larger groups, while in other cases some promoters want to have some capital."
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