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The deal was announced on December 29, 2022. RCPL, Lotus Chocolate Company Limited and Prakash P Pai, Ananth P Pai and other members of the promoter group of Lotus signed the deal.
Reliance Consumer Products Limited (RCPL), the FMCG arm and a wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL), will acquire 51% of the paid-up equity share capital of Lotus Chocolate Company Limited, the company has said.
Reliance Consumer Products Ltd has executed definitive agreements to acquire majority stake in Lotus Chocolate Company Ltd.
It has also announced an open offer to the public shareholders of Lotus to buy up to 26% stake.
Reliance to acquire 51% controlling stake in Lotus Chocolate Company