RIL's FMCG arm acquires Tamil Nadu-based Southern Health Foods for Rs 156 crore

Reliance Industries Ltd's (RIL) FMCG arm, Reliance Consumer Products Ltd (RCPL), on Tuesday announced the acquisition of Tamil Nadu-based Southern Health Foods Pvt Ltd (SHFPL) in a deal valued at Rs 156.42 crore.

SHFPL, best known for its flagship brand Manna, manufactures a range of health-focused food products and has been operating in the segment for over two decades.

"Reliance Consumer Products Ltd (RCPL), a subsidiary of the Company, has acquired a 100 per cent equity stake in Southern Health Foods Pvt Ltd (SHFPL) for an aggregate cash consideration of Rs 156.42 crore from existing shareholders of SHFPL. Consequently, SHFPL has become a wholly owned subsidiary of RCPL effective February 9, 2026," RIL said in a statement.

"The addition of Manna adds further strength to RCPL's foods and staples portfolio that includes brands like Udhaiyam, Independence and SiL, through building a strong business vertical in the growing millet-based foods segment," it added.

"The acquisition reaffirms RCPL's commitment towards the company's core philosophy of offering the 'global quality at affordable price' to the millions of consumers across the country, while working towards a significant presence in the area of health foods," it also stated.

T Krishnakumar, Director at RCPL, said, "Manna is one of the most trusted names in the health focused foods market in Tamil Nadu with noticeable presence in the adjoining states. It is known for healthy offerings like millet-based staples and mixes, drinks and baby food. Apart from adding muscle to RCPL's packaged foods portfolio, Manna's addition will help us serve consumers the best nutritious foods."

SHFPL reported a turnover of Rs 109.40 crore in FY25, Rs 127.37 crore in FY24 and Rs 126.65 crore in FY23.

Prior to this acquisition, RCPL had recently bought a majority stake in Australia-based 'Better-For-You' beverage company Goodness Group Global Pty Ltd.

Meanwhile, shares of Reliance Industries Ltd closed 0.20 per cent lower at Rs 1,458.55. Nilesh Jain, Assistant Vice-President (Derivative and Technical Research) at Centrum Broking, said the stock remains a strong portfolio bet. "From a short-term perspective, RIL looks attractive on charts and expected targets would be between Rs 1,520 and Rs 1,580. Keep a stop loss placed at Rs 1,400. Positionally, the stock has potential to touch Rs 1,700-1,800 levels," he also said.