The partnership would combine Fazer’s heritage brands and product portfolio with RCPL’s substantial scale and access to nearly three million retail outlets
Reliance Consumer Products or RCPL, the FMCG arm of Reliance Industries, has signed a Memorandum of Understanding (MoU) with Finland’s food company Fazer. As part of this evolution, the two companies will establish a long-term strategic partnership in India to produce, market and distribute branded premium chocolates using Fazer’s recipes and quality standards nationwide.
The partnership would combine Fazer’s heritage brands, innovative product portfolio and world’s finest chocolates, with RCPL’s substantial scale and access to nearly three million retail outlets across India, as well as deep expertise in the Indian market, as per the official statement.
“Partnering with Fazer is a strategic step towards introducing one of the world’s finest chocolates to Indian consumers. By combining Fazer’s globally trusted brands and manufacturing excellence with RCPL’s local production capabilities, robust distribution network and deep consumer insights, we are well positioned to bring world-class products to Indian consumers and elevate the overall category experience,” stated T Krishnakumar, Director, Reliance Consumer Products.
Reliance Industry said in an exchange filing that the companies could have the potential to build a unique position in India’s chocolate and confectionery market, which is expected to grow rapidly due to rising consumer incomes and organised retail penetration.
“This partnership would be a great opportunity for Fazer to offer our unique products to the fast-growing Indian market. With RCPL handling commercialisation and distribution in India, we could establish a premium position in the chocolate market and a foundation for a broader scale, nation-wide roll-out with a leading and highly capable local partner. Entering the sizable Indian chocolate market through this strategic partnership could have the potential to accelerate our international growth significantly,” stated Christoph Vitzthum, President and Chief Executive Officer (CEO), Fazer.
Continuing its international growth journey, Fazer is actively pursuing opportunities to expand not only organically but also through mergers and acquisitions.
