Dabur, Emami opt out of race to acquire Henkel India
Economic Times
Economic Times
Homegrown FMCG companies Dabur and Emami have opted out of the race to acquire controlling stake in the Indian subsidiary of German household goods maker Henkel. Jyothy Laboratories is now the likely frontrunner for Henkel India, a person with knowledge of the development said. The bidding process will be finalised. Jyothy Laboratories acquired a 14.9% stake in Henkel from Tamil Nadu Petro Products for 60.7 crore last month. "We are not bidding," Dabur group Director PD Narang said. Emami Director Harsh Agarwal said: "We had evaluated Henkel initially but are not interested now as it doesn't fit into our portfolio. We don't want to enter the soaps and detergent segment."
Even as retail to financial services provider Future Group is riding high on the success of its private food brands, the Group expects its 'Ektaa' brand to clock a Rs 100-crore turnover in the next 2-3 years, a top company official has said. "All our private food brands are doing very well and contribute around 20-25 percent of the overall food business, which again is a growing category for the Group. We expect Ekta to become a Rs 100-crore brand in the next 2-3 years," Future Group Head (Private Brands) Devendra Chawla said.
Marico to focus on four key oil brands
Economic Times
Economic Times
Packaged consumer goods maker Marico, which sold its Sweekar brand to Cargill India, will focus on four key brands, according to its chairman and MD, Harsh Mariwala . The four brands are: Saffola edible oil, Parachute hair oil, Nihar and Hair & Care. The nearly 2,661-crore firm has been divesting brands it doesn't consider core to its business, such as Sweekar sunflower refined oil. Marico sold Sil jams to Scandic Foods in 2008. It is stepping up focus on its core ones for sustained profitability. Mariwala said the firm is exploring multiple options in the value-added foods space with Saffola.
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