Reliance to acquire dozens of brands in $6.5 billion consumer goods play

(Photo: IANS)


Reliance India’s biggest retailer will acquire dozens of small grocery and non-food brands targeting to build its own $6.5 billion consumer goods business to challenge foreign giants like Unilever, according to the sources.

Reliance is in the final stages of negotiations with around 30 popular local consumer brands to fully acquire them to form joint venture partnerships for sales, said the first source familiar with its business planning.

The total investment outlay planned by the company to acquire brands is not clear, but Reliance had set a goal to achieve 6.5 billion$ of annual sales from the business within five years.

“Reliance will become a house of brands. With the new business plan, Reliance is seeking to challenge some of the world’s biggest consumer groups, like Nestle, Unilever, PepsiCo Inc, and Coca-Cola, which have been operating for decades in India,” the sources said.