Reliance Consumer Products Ltd (RCPL), which is the wholly-owned FMCG subsidiary of Reliance Retail Ventures Ltd, has completed the acquisition of a controlling stake in Lotus Chocolate Company Ltd for Rs 74 crore.
The company has said RCPL has acquired about 51 per cent stake in Lotus Chocolate for Rs 74 crore. It has paid Rs 25 crore for Lotus’ non-cumulative redeemable preference shares.
The company has also completed the acquision of equity shares through open offer as per Sebi’s takeover regulations.
Lotus is a business partner for the supply of cocoa and chocolate products, starting from the sourcing of cocoa beans to processing of cocoa beans and delivering chocolates. Its products are supplied to chocolate makers and chocolate users across the world, starting from local bakeries to multi-national companies.