RCPL inks deal with TGI group to form JV to enter Nigerian market

Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Industries Limited, on Monday said it has sig­n­ed a definitive agreement to fo­rm a majority-owned joint ve­nture with Tropical General Investme­nts (TGI) group, a business conglomerate in Nigeria, to expand its footprint in the co­untry.

 

“Since its inception in 2022, RCPL has successfully built a robust R&D backbone and scaled a diverse portfolio of iconic brands into household names. Having already established itself as a key player in India, RCPL subsequently forayed into international markets across the Middle East, South Asia, and Africa, making high-quality products available at affordable price points, it said in its release.

 

T Krishnakumar, director, RCPL, said, “The joint venture with TGI group will be a pivotal milestone in RCPL’s journey towards becoming a global FMCG player. Our mission is to establish RCPL as a leading global FMCG company from India and offer global quality products at affordable prices, and this will be instrumental in expanding RCPL’s market presence globally as we enter the crucial market of Nigeria. TGI group is a diversified and trusted partner, and their deep expertise and decades-long presence in sectors such as FMCG, culinary, and agribusiness will be invaluable as we scale our operations in the region.”

 

Established in 1980, TGI group is an international business group with a presence across Africa, the Middle East and Asia. Headquartered in Lagos, Nigeria, the group operates across food, consumer goods, agribusiness, chemicals, pharmaceuticals and distribution, with a broad portfolio of leading brands across multiple categories.

 

In Nigeria, TGI brands include Big Bull Rice, Terra Seasoning Cubes, Golden Terra Soya Oil, Renew Starch and Supramult Multivitamins reach millions of consumers daily.

 

Rahul Savara, group managing director, Tropical General Investments Group, said in the release, “TGI group is proud to partner with RCPL to drive growth across Nigeria and West Africa. By bringing together complementary strengths and world-class expertise across product development, manufacturing, marketing and distribution, this partnership is well positioned to deliver consistent quality and long-term value to consumers. Nigeria represents one of the most compelling growth markets globally, and TGI Group looks forward to building a strong and enduring growth platform alongside RCPL.”