RCPL, Finland's Fazer Sign MoU To Produce Premium Chocolates in India

Mumbai: Reliance Industries FMCG business subsidiary Reliance Consumer Products (RCPL) has signed MoU with Finland's food company Fazer. The MoU will help RCPL to bring Fazer’s chocolates & confectionaries within reach of Indian consumers.

"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 high-quality standards nationwide," RIL said in a stock exchange filing.

The partnership would combine Fazer’s iconic heritage brands, innovative product portfolio, and world’s finest chocolates, with RCPL’s scale and access to nearly 3 million retail outlets across India, as well as expertise in the Indian market. "Together, 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," RIL said.

RCPL has expanded its presence in the chocolate & confectionary market by reviving local Indian brands like Ravalgaon, Toffeeman, Pan Pasand and Lotus Chocolates. RCPL has also introduced some of the popular global brands like Maliban, Nexba and PACE to the Indian consumers.

“Partnering with Fazer is a strategic step towards introducing one of the world’s finest chocolates to Indian consumers. We are well positioned to bring world-class products to Indian consumers and elevate the overall category experience," said T. Krishnakumar, Director, RCPL.

“This partnership would be a great opportunity for Fazer to offer our unique products to the fast-growing Indian market. Entering the sizable Indian chocolate market through this strategic partnership, could have the potential to accelerate our international growth significantly," said Christoph Vitzthum, president and CEO, Fazer.