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| Godrej Consumer earmarks up to Rs 1,000-cr for acquisitions |
| Press Trust of India / Mumbai Aug 03, 2009, 16:10 IST |
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Godrej Consumer Products (GCPL) has earmarked up to Rs 1,000-crore for acquisitions in emerging markets like Asia, Africa and Latin America, a top company official said.
The FMCG major has been scouting for companies in the hygiene, personal and hair-care segments.
"We are looking at acquisitions internationally and domestically in high-growth markets. It (amount earmarked for acquisitions) is up to Rs 1,000-crore," GCPL Executive Director and President Hoshedar K Press said.
The company may borrow a portion of the funds as and when required, Press added.
GCPL, which has 25 per cent of its revenues coming from outside India, is currently studying markets in Asia, Africa and Latin America, he said.
Last year, Godrej bought South African hair product firm, Kinky.
Meanwhile, GCPL also aims to double its market reach in rural areas in the next three years as it expects high growth led by development in agriculture and infrastructure.
"We are looking to double our market reach in rural India in the next three years. Rather than spending money across the board, we will focus on 8-9 states for greater penetration," GCPL Managing Director Dalip Sehgal said.
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