Reliance Consumer Products Limited (RCPL) is acquiring SIL Foods, which sells jams, sauce, baked beans, mayonnaise and cooking paste under the ‘SIL’ brand, for an undisclosed sum.
RCPL said the purchase will expand and strengthen its position in the fast-growing consumer products segment. The company will now compete against players such as Hindustan Unilever and the Tatas.
“The addition of the SIL brand and the diverse range of its products will complement RCPL’s existing portfolio, which is built on a vision to empower everyday life with global-quality offerings inspired by India, meant for the world at an honest price,’’ it added.
Reliance, which has in the past acquired brands such as Campa Cola, Sosyo Hajoori Beverages (50 per cent), Ravalgaon’s confectionary brands and Lotus Chocolate Company, said its vision for growth goes beyond expansion.
“Reliance Consumer Products is focused on building a business for the future while preserving the rich cultural and culinary heritage of India. SIL Foods, with its trusted legacy, offers an exciting opportunity to bring iconic Indian flavours and products back to consumers in new and innovative formats.
“We believe that with our expertise in consumer engagement, innovation, and distribution, we can unlock the brand’s full potential,’’ Ketan Mody, COO of RCPL, said.
“We are thrilled to join forces with RCPL and embark on this new chapter for SIL Foods,” Ajay Mariwala, managing director of SIL Foods, said.