Reliance to further boost indigenously developed daily use high-quality products

Reliance acquires 51% controlling stake in Lotus Chocolate Company for Rs 74 Cr – Food Industry News

Reliance Consumer Products Ltd. (RCPL), the FMCG arm and a wholly-owned subsidiary of Reliance Retail Ventures Ltd. (RRVL), is acquiring a 51% controlling stake in Hyderabad-based Lotus Chocolate Company.

According to a definitive agreement signed by both companies, RCPL will acquire 65,48,935 equity shares of Lotus representing 51% of the paid-up equity share capital from the current promoter and promoter group of Lotus at a price per share of Rs. 113.00 aggregating to Rs 74 crore. The agreement has the buy-in from Lotus Chocolate promoters Prakash P Pai, Ananth P Pai, and other members of the promoter group.

The capital infused by RCPL will help drive the growth and expansion of Lotus into a comprehensive confectionery, cocoa, chocolate derivatives and related products manufacturer across industrial and consumer market spectrum backed by state-of-the-art manufacturing, best in-class processes and people.

Equipped with sophisticated machinery from Germany, UK, Denmark, and Italy, and backed by stringent quality processes, Lotus produces a wide range of cocoa butter, cocoa liquor and cocoa powder.

Abhijit Pai, Founder-Promoter of Lotus, said, “We have the vision to build a world-class confectionery products business across customer segments backed by best-in-class manufacturing capabilities and talent. Our strategic partnership with Reliance, through this investment, will further enable this vision and accelerate Lotus’ transformation.”