Reliance Retail, the retail arm of Reliance Industries, has acquired two Sri Lankan biscuit brands, Raskik and Toffee, in partnership with Maliban, a leading biscuit manufacturer in Sri Lanka. The move is expected to strengthen Reliance Retail’s position in the biscuit and snack segment in the South Asian market.
The acquisition of Raskik and Toffee is part of Reliance Retail’s strategy to expand its product portfolio and tap into new markets.
The two brands have a strong presence in Sri Lanka and are known for their high-quality products and innovative flavors.
Reliance Retail’s partnership with Maliban is expected to bring significant synergies, combining Reliance Retail’s marketing and distribution expertise with Maliban’s deep understanding of the Sri Lankan market.
The partnership will also provide Reliance Retail with access to Maliban’s manufacturing facilities, enabling it to leverage the company’s capabilities to produce its own brands in Sri Lanka.
The acquisition of Raskik and Toffee also reflects Reliance Retail’s commitment to sustainable growth and responsible business practices.
The two brands are known for their ethical and sustainable production practices, and Reliance Retail plans to build on this legacy by investing in sustainable production methods and responsible sourcing of raw materials.
In a statement, Mukesh Ambani, the chairman of Reliance Industries, said that the partnership with Maliban and the acquisition of Raskik and Toffee are part of Reliance Retail’s larger vision to become a global leader in the food and beverage industry.
He further stated that the South Asian market is a high-potential growth area, and Reliance Retail is committed to tapping into this market with innovative and sustainable products.
Conclusion of Reliance Retail
Reliance Retail‘s acquisition of Raskik and Toffee in partnership with Maliban is a significant step towards expanding its presence in the South Asian market. The partnership is expected to bring significant synergies, enabling Reliance Retail to leverage Maliban’s manufacturing capabilities and market expertise to reach a wider audience. With a focus on sustainable production methods and responsible sourcing of raw materials, Reliance Retail is well-positioned to become a leader in the food and beverage industry in the region.
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