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Reliance Consumer Products (RCPL) on Wednesday acquired packaged foods brand SIL, with a portfolio of products such as cooking pastes, jams , mayonnaise, baked beans and Chinese sauces . Budget with ET India's aviation sector has wings, but airlines can't fly high Change the game of trade as Trump returns to US throne Income tax payers' wishlist: More benefits in new tax regime, higher HRA & more "The acquisition formalities have been completed. Pune-based SIL Food India operates mainly in Western and Southern markets, and Reliance Consumer plans to scale up distribution nationally, to set up competition directly with players such as HUL , Tata Consumer and Cremica, and strengthen its position in the FMCG sector," one of the executives told ET on Tuesday.
Reliance Consumer has acquired SIL's brands from its current owner Food Service India. SIL has manufacturing facilities near Pune and Bengaluru, according to information on its website. The 75-year-old SIL Food, originally started as James Smith & Co, was acquired by Marico Industries in 1993.
Marico subsequently sold the business to Scandic Food India, a subsidiary of Danish business house Good Food Group. And in 2021, Food Service India, which supplies seasonings, spices and condiments to hotels and restaurants, acquired SIL Foods. "Reliance Consumer will continue with its strategy of pricing the products lower than established rivals, offering higher trade margins to retailers and re-introducing legacy brands," the executive mentioned above said.
RCPL is acquiring SIL's brands, not the company or manufacturing facility, he said before the acquisition. The company's acquisitions in the past couple of years include Ravalgaon and Toffeeman confectionery, Campa soft drinks, Raskik beverages, Sosyo carbonated drinks and Lotus chocolates. Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Basics of Generative AI: Unveiling Tomorrows Innovations By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Master in Python Language Quickly Using the ChatGPT Open AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Performance Marketing for eCommerce Brands By - Zafer Mukeri, Founder- Inara Marketers View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Marketing Modern Marketing Masterclass by Seth Godin By - Seth Godin, Former dot com Business Executive and Best Selling Author View Program Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View Program Strategy Succession Planning Masterclass By - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd.
View Program Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) AI and Analytics based Business Strategy By - Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI View Program Web Development A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital Marketing Masterclass by Pam Moore By - Pam Moore, Digital Transformation and Social Media Expert View Program Artificial Intelligence(AI) AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills By - Metla Sudha Sekhar, IT Specialist and Developer View Program Office Productivity Mastering Microsoft Office: Word, Excel, PowerPoint, and 365 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital marketing - Wordpress Website Development By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert View Program Office Productivity Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis By - Metla Sudha Sekhar, IT Specialist and Developer View Program Web Development Mastering Full Stack Development: From Frontend to Backend Excellence By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance Financial Literacy i.e Lets Crack the Billionaire Code By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator View Program Data Science SQL Server Bootcamp 2024: Transform from Beginner to Pro By - Metla Sudha Sekhar, IT Specialist and Developer View Program Last week, RCPL, a wholly owned subsidiary of Reliance Retail Ventures (RRVL), reported a top line of ₹8,000 crore for the first nine months of FY25.
Reliance Retail Ventures announced in its December quarter earnings that its Campa and Independence brands are projected to touch ₹1,000 crore by the end of FY25. The company said RCPL witnessed a near 300% year-on-year growth in its network of distributors and merchant outlets in the October-December quarter. Food Service India reported revenues of '240 crore in FY24.
Recent deals in the packaged foods space include Samara Capital-backed Agro Tech Foods acquiring 100% stake in Del Monte Foods, a joint venture between Sunil Mittal's Bharti Enterprises and Del Monte Pacific of Singapore, for ₹1,300 crore. Last year also saw food services and contract catering company Compass India Food Services, a wholly owned subsidiary of the $38 billion British Compass Group, buying a majority 70% stake in Delhi-based food catering company ICS Foods. (You can now subscribe to our Economic Times WhatsApp channel ).
