New Delhi: Reliance Industries on February 16 informed stock exchanges that its FMCG arm, Reliance Consumer Products Limited (RCPL), has entered into a definitive agreement to form a majority-owned joint venture with Tropical General Investments (TGI) Group, a leading Nigerian conglomerate.
The proposed partnership, subject to customary legal and regulatory approvals, is aimed at establishing a strong footprint in Nigeria — widely regarded as one of the most compelling consumer growth markets in Africa. The venture will combine RCPL’s expanding portfolio of food and consumer brands with TGI’s deep manufacturing capabilities and established distribution network across Nigeria and West Africa.
RCPL, launched in 2022, has rapidly scaled its presence in India and expanded into select international markets across the Middle East, South Asia and Africa. The Nigeria foray marks a significant step in its global strategy, as the company seeks to build scale beyond the domestic market.
T. Krishnakumar, Director at RCPL, described the joint venture as a “pivotal milestone” in the company’s global ambitions. He said the partnership aligns with RCPL’s vision of emerging as a leading global FMCG player from India, offering high-quality products at affordable prices. He added that TGI’s decades-long expertise in FMCG manufacturing, culinary products and agribusiness would be instrumental in scaling operations in the region.
Rahul Savara, Group Managing Director of TGI Group, said the collaboration brings together complementary strengths in product development, manufacturing, marketing and distribution. He noted that Nigeria represents a structurally attractive growth opportunity, and expressed confidence that the partnership would deliver long-term value to consumers across Nigeria and West Africa.
Established in 1980 and headquartered in Lagos, TGI Group operates across food, consumer goods, agribusiness, industrial chemicals and pharmaceuticals. Its portfolio includes well-known Nigerian brands such as Big Bull Rice, Terra Seasoning Cubes and Golden Terra Soya Oil, which have a significant presence in local households.
For Reliance Industries, the expansion comes at a time when the conglomerate is sharpening its focus on consumer-facing businesses, alongside telecom and retail. RCPL’s overseas push signals a strategic intent to build an Indian-origin FMCG multinational, leveraging RIL’s capital strength, supply chain capabilities and brand-building expertise.
The company said further details will be shared after regulatory clearances, as it moves to operationalise the joint venture and roll out products in the Nigerian market.