Reliance Industries said that its FMCG arm Reliance Consumer Products (RCPL) has acquired leading health foods maker Southern Health Foods.
Based in Tamil Nadu, Southern Health Foods is key player in several health focused foods categories like packaged healthy foods including millets, oats, multi-grain products, health mixes, breakfast cereals, dry fruits, among others. Its flagship brand Manna is widely known for its healthy offerings in many emerging packaged foods categories like millet flour, baby foods and multigrain drink mix.
RCPL has acquired 100% equity stake in Southern Health Foods (SHFPL) for an aggregate cash consideration of Rs 156.42 crore from the existing shareholders of SHFPL.
The company stated that the addition of Manna adds further strength to RCPLs foods and staples portfolio that includes brands like Udhaiyam, Independence and SiL, through building a strong business vertical in the growing millet-based foods segment.
T. Krishnakumar, director, Reliance Consumer Products, said, “Manna is one of the most trusted names in the health focused foods market in Tamil Nadu with noticeable presence in the adjoining states.
