Reliance Consumer Products Limited has acquired Southern Health Foods Private Limited, the company operating Manna Foods, for ₹156.42 crore.
Khaitan & Co advised Reliance Consumer Products on this acquisition.
The transaction marks an exit for all existing shareholders of Manna Foods.
Shardul Amarchand Mangaldas & Co advised exiting shareholder NHPEA Summer Holding B.V. (Morgan Stanley) on this transaction.
The transaction team was led by Nivedita Tiwari (Partner), along with Tweisha Mishra (Senior Associate), with assistance from Anushka Ganguli (Associate).
The team received advisory inputs on tax-related aspects from Rajat Bose (Partner), and Neeladri Chakrabarti (Consultant).
IC RegFin Legal advised exiting shareholder Fulcrum on this transaction.
The transaction team consisted of Puneet Shah (Partner), Sidharth Dhody (Principal Associate) and Kaumudi Sharma (Associate).
Tamil Nadu-based Manna Foods specializes in natural, millet-based cereals, infant foods, milk supplements, and other nutritious everyday products.
The acquisition represents a strategic move by Reliance Consumer Products to strengthen its presence in the rapidly growing “better-for-you” foods segment, including categories such as health mixes, breakfast cereals, millets, multigrain products, oats and other healthy foods and staples.
The Company had acquired a majority stake another Tamil Nadu-based food brand Udhaiyam last month, as well as acquired SiL in January.
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