M&A

M&A

Reliance Retail acquires beverage brand Raskik, candy brand Toffeeman

Economic Times  

Reliance Retail has acquired beverage brand Raskik and candy brand Toffeeman in the quarter ended March 2023. Raskik operates a portfolio of natural fusion beverages that it sells across several channels, including general trade, local chains, and online grocers. Toffeeman brand is owned by Sweet Confectionery, which has more than three decades of expertise in the confectionery marketplace. Reliance Retail has also inked a partnership with Sri Lanka-based biscuits brand Maliban. Reliance Retail had previously acquired Sosyo, Lotus Chocolate and Campa Cola, as part of its FMCG foray. In December, it launched its consumer-packaged goods brand Independence.