Another company added to the Ambani family's portfolio, now a chocolate maker has been acquired.

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image : Twitter


Mukesh Ambani, the richest man in Asia, is constantly expanding his business. Meanwhile, Reliance Retail is establishing its dominance in this sector by making one deal after another. Now another big company has been added to Ambani's portfolio. We are talking about the chocolate maker Lotus Chocolate. Reliance Consumer Products Limited (RCPL) has bought 51 percent stake in this company and the company has shared the information that its acquisition has been completed.

The deal was completed for 74 crores

According to the report, Reliance Consumer Products Limited has completed the deal by buying a major stake in Lotus Chocolate Company Limited for Rs 74 crore. Under this deal, RCPL will pay for non-cumulative redeemable preference shares of Lotus Chocolate at Rs. 25 crores and got control of the company. It has been said from Reliance that the command of the company has been taken over from May 24. Acquisition of shares under open offer has also been completed.

The deal was announced on 29 December 2022

RCPL had made a public announcement to acquire an additional 26 per cent of the equity share capital of Lotus as per market regulator Sebi's takeover regulations. RRVL is a subsidiary of Mukesh Ambani-led Reliance Industries and the holding company for all retail businesses under the RIL group. The deal between Reliance and Lotus was announced last year on December 29, 2022.

Lotus was started in 1988

The deal has been signed by Reliance Consumer Products Limited, Prakash Pi Pai of Lotus Chocolate Company Limited, Anant Pi Pai and other members of the Lotus Promoter Group. It was also priced at Rs 113 per share during the initiation of the deal in December and the process was completed at this rate. The chocolate company Lotus was founded in the year 1988. It supplies Coca and Chocolate products.

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