M&A

M&A

Reliance in talks to acquire 30 brands for consumer goods play

Economic Times  

Reliance will acquire dozens of small grocery and non-food brands as it targets building its own USD 6.5 Billion consumer goods business to challenge foreign giants like Unilever. Reliance plans to build a portfolio of 50 to 60 grocery, household and personal care brands within six months and is hiring distributors to take them to mom-and-pop stores and bigger retail outlets across the nation. Reliance is in final stages of negotiations with around 30 popular niche local consumer brands to fully acquire them or form joint venture partnerships for sales. The consumer goods push under a vertical named Reliance Retail Consumer Brands will come on top of a brick-and-mortar store network of more than 2,000 grocery outlets and ongoing expansion of "JioMart" e-commerce operations.