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Reliance Industries acquires British icon Stoke Park for $79 million
Photo Credit: VCCircle

Reliance Industries on Thursday said that it has acquired UK-based Stoke Park Limited for $79 million (£57 million).

Stoke Park owns and manages sporting and leisure facilities in Stoke Poges, Buckinghamshire, UK. The facilities include a hotel, conference facilities, sports facilities and one of the highest rated golf courses in Europe.

Reliance said that it will look to enhance the sports and leisure facilities at this heritage site.

The acquisition will add to the consumer and hospitality footprint of Reliance. The firm already holds investments in EIH Ltd (Oberoi Hotels) and is developing a convention centre, hotel and managed residences in BKC Mumbai.

Mukesh Ambani-led Reliance has been on an aggressive acquisition path and has bought a bunch of assets across sectors in the recent past.

Last month, Reliance came in as an anchor limited partner (LP) for homegrown venture firm Kalaari Capital’s fourth fund.

This development came after a series of acquisitions in the consumer space. The oil-to-telecom conglomerate has acquired online furniture retailer Urban Ladder, lingerie retailer Zivame, edtech firm Embibe and chatbot startup Haptik.

Reliance, which is in the process of hiving off its oil-to-chemicals business into a separate unit, is expecting approvals for the same to come in by the second quarter of this fiscal year.

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