Khaitan, JSA act on Reliance Consumer Products acquiring majority stake in Udhaiyam

Reliance Consumer Products Limited has acquired a majority stake in Udhaiyams Agro Foods Private Limited, through a primary investment.

The transaction was led by Vinit Shukla and Prabhu Ram Nagarajan from Reliance Consumer Products.

Khaitan & Co advised Reliance Consumer Products on this transaction. The Firm assisted in legal and title due diligence of the sister entities: (i) Shri Lakshmi Agro Foods Private Limited; (ii) T.M. Karuppaiah Nadar & Sons; (iii) Shri Lakshmi Agro Foods and (iv) Udhaiyam Agro Fresh; internal restructuring for carve out of the dhall business; leading the transaction, particularly in drafting, negotiating and finalising the transaction documents and assisting with closing and post-closing formalities.

The core team consisted of Purti Minawala (Partner), Ayush Nanda (Counsel), Dnyaneshwari Chincholikar (Senior Associate), Priya Maharishi (Associate) and Prerna N Hegde (Associate) with assistance from the following:

Employment aspects: Deepak Kumar (Partner) and Archika Dudhwewala (Principal Associate);

Intellectual property aspects: Shailendra Bhandare (Partner), Shouraseni Chakraborty (Associate) and Vaishali Adhikari (Associate);

Litigation aspects: Mihika Jalan (Counsel) and Surya Ravikumar (Associate);

Real estate aspects: Amit Wadhwani (Partner), Harsh Parikh (Partner), Kartik Shiv Kumar (Counsel), Vaishnavi Subrahmanyam (Principal Associate), Darsha Prakash (Associate) and Nandita Mathihalli (Consultant).

JSA Advocates & Solicitors advised Udhaiyam and its promoters on this transaction.

The transaction team was led by Anand Lakra (Partner), with support from Niharika Mepani (Partner), Ami Shah (Principal Associate), Jinay Shah (Senior Associate), Associates Rishabh Sharma and Rahi Barfiwala.

The Direct Tax team was led by Kumarmanglam Vijay (Partner) with support from Surajkumar Shetty (Partner) and Aditya Patadia (Associate).

The Indirect Tax team was led by Shareen Gupta (Partner) with support from Ruchita Modi (Principal Associate).

The Banking team was led by Pratish Kumar (Partner) with support from Sumitava Basu (Partner) and Arpita Mittal (Associate).

The Employment team was led by Gerald Manoharan (Partner) with support from Sonakshi Das (Partner).

Udhaiyams Agro Foods Private Ltd, which operates under its highly popular flagship brand ‘Udhaiyam’, has a rich legacy of over three decades and a strong market presence in Tamil Nadu. The brand has established itself in key staple and food product categories, including rice, spices, snacks and idli batter, among others, supported by a wide distribution network.

The acquisition incorporates Udhaiyam into Reliance Consumer Products Limited’s portfolio, enhancing the fast-moving consumer goods leader’s presence in branded staples.

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