India’s Reliance Industries has made another acquisition in food and drinks, snapping up local business Southern Health Foods.
The Rs1.56bn ($17.2m) deal, struck through the conglomerate’s FMCG arm Reliance Consumer Products, adds a “key player” in product areas such as millets, oats and multigrain products, the company said.
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Southern Health Foods, based in Tamil Nadu, markets a range of products under the Manna brand including breakfast cereal, atta, baby food and nutritional drinks.
The purchase is Reliance’s second FMCG deal in under a week. On Saturday (7 February), the group announced an agreement to acquire a majority stake in Australian beverage maker Goodness Group Global.
T. Krishnakumar, director of Reliance Consumer Products, 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. Apart from adding muscle to RCPL’s packaged foods portfolio, Manna’s addition will help us serve consumers the best nutritious foods.
“With our strong distribution, R&D and supply chain capabilities, Manna would be made available in other geographies – eventually making it a household name across the country.”
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By GlobalDataChennai-based Southern Health Foods was incorporated in 2012. The company’s turnover has declined in recent years, standing at Rs1.09bn, Rs1.27bn and Rs1.26bn, in its 2024-25, 2023-24 and 2022-23 financial years, respectively.
Reliance Industries snapped up the Goodness Group Global shareholding for an undisclosed sum.
The company said the deal would take Reliance Consumer Products into Australia’s consumer goods market.
It also said it plans to push Goodness Group’s brands, including Nexba and Pace, into additional markets, including India. Nexba is positioned as a gut-health brand using the company’s plant-based, zero-calorie sweetener, Goodsweet.
Pace is described as a brand “co-created” with Australian cricket captain Pat Cummins.
