Mukesh Ambani bought another company, know how many crores he acquired this 82-year-old company

Reliance, led by the country's veteran businessman Mukesh Ambani, is constantly expanding its business. Reliance has acquired the popular toffee 'Paan Pham' and Tutti Frutti brands. Reliance Consumer has acquired Rawalgaon Sugar Farm's confectionery brands such as Coffee Break and Pan Pham. This acquisition has been done for 27 crore rupees.

All rights sold to Reliance Consumer Products Limited

Rawalgaon Sugar Farm has brands like Mango Mood, Coffee Break, Tutti Frutti, Paan Pham, Choco Cream and Supreme. Under this deal, Rawalgaon Sugar Farms has sold the trademarks, product recipes and all intellectual property rights of these products to Reliance Consumer Products Limited i.e. RCPL.

The deal was done for 27 crore rupees

RCPL is a subsidiary of Reliance Retail Ventures Limited i.e. RRVL, the retail arm of the Reliance Group. Rawalgaon Sugar Farms said in a stock exchange filing that its board of directors has approved the sale and transfer of trademarks and intellectual property rights of these brands to RCPL in a deal worth Rs 27 crore.

It lost market share due to increasing competition

All other assets such as property, land, plant, buildings, equipment, machinery will be retained by it even after completion of the deal, Rawalgaon Sugar said. The company said it has found it difficult to sustain its confectionery business in recent years. It has lost market share due to increasing competition from both organized and unorganized players.

Walchand Hirachand established a sugar mill in the year 1933 at Rawalgaon village in Nashik district of Maharashtra. In the year 1942, this company started manufacturing toffee under the Rawalgaon brand. This company has 9 brands like Paan Chok, Mango Mood and Coffee Break.