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Reliance Consumer Products Ltd forms a majority-owned joint venture with Nigeria-based TGI Group to expand FMCG presence in Nigeria, leveraging TGI’s manufacturing and distribution strengths. Shares of Reliance Industries Ltd ended higher on Monday, Feburary 16, by 1.02% at ₹1,434.10 on the NSE.
By Megha Rani February 16, 2026, 7:02:00 PM IST (Published)
Reliance Consumer Products Ltd (RCPL), the FMCG arm of Reliance Industries Ltd, has entered into a definitive agreement to form a majority-owned joint venture with Nigeria-based Tropical General Investments Group (TGI Group), marking a significant step in its global expansion strategy.
The proposed partnership, subject to customary regulatory and legal approvals, will give RCPL a stronger foothold in Nigeria, as per the exchange filing.
Under the joint venture, RCPL plans to introduce a wide range of its FMCG products to Nigerian consumers, leveraging TGI Group’s established manufacturing capabilities and extensive distribution network across the region.
T. Krishnakumar, Director at RCPL, described the partnership as a pivotal milestone in the company’s ambition to emerge as a global FMCG player from India. He said Nigeria represents a crucial market and that TGI’s long-standing expertise in FMCG, culinary and agribusiness sectors will support RCPL’s scale-up in the region.
Rahul Savara, Group Managing Director of TGI Group, said the partnership combines complementary strengths in product development, manufacturing, marketing and distribution. He added that Nigeria remains one of the most compelling growth markets globally and expressed confidence in building a long-term growth platform alongside RCPL across Nigeria and West Africa.
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Established in 1980, TGI Group is an international business conglomerate headquartered in Lagos, with operations spanning Africa, the Middle East and Asia. The group has a diversified presence across food, consumer goods, agribusiness, chemicals, pharmaceuticals and distribution, managing a broad portfolio of leading brands. In Nigeria, its flagship brands such as Big Bull Rice, Terra Seasoning Cubes, Golden Terra Soya Oil, Renew Starch and Supramult Multivitamins reach millions of consumers daily.
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RCPL announced that it has acquired a 100% stake in Southern Health Foods Private Ltd (SHFPL) for ₹156.42 crore in an all-cash deal. The transaction, completed on February 9, 2026, makes the Tamil Nadu-based company a wholly owned subsidiary of RCPL.
Incorporated in 2012, SHFPL owns the Manna brand, a well-known name in the health foods segment across Tamil Nadu and neighbouring states. The company operates in millet-based staples, multigrain mixes, breakfast cereals and baby food categories. It reported a turnover of ₹109.40 crore in FY25, compared with ₹127.37 crore in FY24 and ₹126.65 crore in FY23.
Shares of Reliance Industries Ltd ended higher on Monday, Feburary 16, by 1.02% at ₹1,434.10 on the NSE.
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