BENGALURU/CHENNAI: Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Industries Limited, has acquired a majority stake in Udhaiyams Agro Foods Private Limited.
Under the joint venture agreement, RCPL holds a majority stake, while Udhaiyams’ erstwhile owners hold a minority stake in the company.
The deal brings the food company and Tamil Nadu’s heritage nutrition brand, Udhaiyam, under RCPL’s fold, adding strength to the FMCG major’s branded staples portfolio.
Through this acquisition, RCPL further reaffirms its commitment to the company’s core philosophy of promoting India’s heritage and legacy brands.
T Krishnakumar, director, RCPL, said, “Udhaiyam is a brand that needs no introduction. It has been serving healthy food choices to consumers for decades and is a true reflection of TN’s rich heritage enriched with its scientific temper and superior quality. This joint venture further strengthens RCPL’s presence in the branded staples space.”
S Sudhakar, MD, Udhaiyams Agro Foods, said, “This partnership with RCPL opens up new opportunities for Udhaiyam. With RCPL now taking charge of its expansion, we are confident the goodness of TN and the rich heritage of the land will resonate with consumers across geographies.”
Following this acquisition, the erstwhile promoters of Udhaiyams Agro Foods —S Sudhakar and S Dinakar—will continue to hold a minority stake in the company. With more than 30 years of experience in the staples category and in scaling the packaged pulses business at Udhaiyams, they will continue with the company and support the next phase of growth.