Indian billionaire Mukesh Ambani's Reliance Group has invested in Nepal's manufacturing sector in collaboration with the prominent business conglomerate, Chaudhary Group (CG).
The joint venture between Reliance and CG, named CG Reliance Beverages Pvt. Ltd., has acquired Ventura Bottlers Pvt. Ltd., located in Manahari, Makwanpur. Ventura Bottlers is a soft drinks industry.
Subash Acharya, founder and managing director of Ventura Bottlers, informed Nepalkhabar about Reliance and CG's acquisition. He mentioned that the entry of a major group like Reliance into Nepal's manufacturing sector is a positive development.
Since 2018, Ventura had been collaborating with the renowned international brand RC Cola, serving as the company's official bottlers in Nepal. Acharya stated that if operated at full capacity, Ventura could generate an annual turnover of Rs 3 billion.
However, the industry faced financial difficulties during the COVID-19 pandemic.
CG had already been operating in Nepal's soft drinks markets under the "Rio" brand, which likely encouraged Reliance to enter the manufacturing sector in partnership with CG.
The financial details of the acquisition, however, have not yet been disclosed.
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