Reliance Consumer Products acquires SIL brand; plans to compete with HUL, Cremica & Tata
Reliance Consumer Products (RCPL) on Wednesday acquired packaged foods brand SIL, with a portfolio of products such as cooking pastes, jams, mayonnaise, baked beans and Chinese sauces.
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«The acquisition formalities have been completed. Pune-based SIL Food India operates mainly in Western and Southern markets, and Reliance Consumer plans to scale up distribution nationally, to set up competition directly with players such as HUL, Tata Consumer and Cremica, and strengthen its position in the FMCG sector,» one of the executives told ET on Tuesday.
Reliance Consumer has acquired SIL's brands from its current owner Food Service India. SIL has manufacturing facilities near Pune and Bengaluru, according to information on its website.
The 75-year-old SIL Food, originally started as James Smith & Co, was acquired by Marico Industries in 1993. Marico subsequently sold the business to Scandic Food India, a subsidiary of Danish business house Good Food Group. And in 2021, Food Service India, which supplies seasonings, spices and condiments to hotels and restaurants, acquired SIL Foods.
«Reliance Consumer will continue with its strategy of pricing the products lower than established rivals, offering higher trade margins to retailers and re-introducing legacy brands,» the executive mentioned above said. RCPL is acquiring
