Reliance Consumer Products, a subsidiary of Reliance Retail, has acquired the direct-to-consumer (D2C) snacking startup TagZ Foods for Rs 28 crore (approximately $3.3 million), according to reports by Inc42. The deal, described as a distress sale, follows significant operational challenges faced by the startup, with the final valuation subject to due diligence.
Founded in 2019 by Anish Basu Roy and Sagar Bhalotia, TagZ Foods initially gained traction as an omnichannel brand offering popped potato chips, gourmet dips, and cookies through its website, e-commerce platforms, and offline retail stores. Despite raising $3.2 million across multiple funding rounds, the startup struggled to scale effectively. Months ago, TagZ Foods halted its manufacturing activities, leading to its disappearance from e-commerce platforms and retail shelves. Operational challenges also triggered employee departures, further straining the business.
TagZ Foods attracted notable investors, including cricketer Shikhar Dhawan, who invested an undisclosed amount and later became the brand ambassador. In May 2023, the company secured $2 million in a pre-Series A funding round led by 9Unicorns, Dexter Angels, Agility Ventures, Venture Catalysts, Klub, Indifi, and Rannvijay Singha.
This acquisition signifies Reliance Consumer Products’ entry into the premium snacking market, positioning the company to revitalize TagZ Foods under its expansive retail network.
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