RCPL hits sweet spot with Pan Pasand, Mango Mood as it bags Ravalgaon candy biz
Live MintNew Delhi: Reliance Consumer Products Limited on Friday said it is set to buy candymaker Ravalgaon's confectionery business for ₹27 crore, giving it rights to brands such as Pan Pasand and Mango Mood. "The Board, on the recommendation of the audit committee of the company, inter alia approved the sale, transfer and assignment of the trademarks, recipes, all intellectual property rights, including all rights, interests, and protections associated therewith, relating to the company’s sugar boiled confectionery business to Reliance Consumer Products Limited, for a consideration of Rs27 crore,” The Ravalgaon Sugar Farm Ltd said in a filing to the exchanges on Friday. The transaction restricts Ravalgaon from directly or indirectly manufacturing, sourcing, marketing, distributing or engaging in any business activity that deals with the products of the company as well as sugar confectionery, jelly confectionery, fruit confectionery, etc. In its filing, the candymaker said the company has found it difficult in recent years to sustain its sugar boiled confectionery business.
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