|
| Yash Birla in talks to buy two ayurveda companies |
| P B Jayakumar / Mumbai Feb 07, 2010, 00:50 IST |
|
Negotiations on with Kerala’s second-largest chain.
 Business tycoon Yash Birla is looking at more acquisitions in traditional ayurveda. His group is in advanced negotiations with two major ayurvedic companies in Kerala having chains of treatment centres and drug outlets.
Sources said the Rs 3,000-crore group, which acquired a majority stake in Aluva-based Kerala Vaidyashala early last year to form Birla Kerala Vaidyashala (BKV), was in discussions to acquire the Nagarjuna Group of Thodupuzha, near Kottayam.
Nagarjuna is the second-largest ayurvedic group in Kerala, with a reputed treatment centre at Kalady, the birthplace of Adi Sankara.
Besides, the group has formulation manufacturing units, an ayurvedic institute, a research and development centre and a well-spread chain of speciality clinics for chronic and lifestyle diseases. It makes over 500 traditional ayurvedic drugs and more than 65 patented medicines.
BKV was also negotiating with another Kerala-based ayurvedic company, they said.
Harshjeet Kuroop, managing director of BKV, confirmed the development. “We are currently talking to Nagarjuna and to another Kerala-based group, but it is early to comment on the closure of the deal,” he said.
Harshjeet, also a former promoter of Kerala Vaidyashala, said the company was looking at ayurvedic chains having presence inside and outside Kerala.
Many corporate houses seem to have become aware of the business potential of ayurveda, here and abroad. Recently, Kerala Ayurveda Ltd (KAL), a listed company owned by serial entrepreneur and former head of PepsiCo India, Ramesh Vangal, announced a merger with Coimbatore Arya Vaidya Pharmacy (AVP), the second-largest ayurvedic company in South India after Kottakkal Arya Vaidya Sala. Vangal bought KAL in 2005.
Yash Birla bought 51 per cent in Kerala Vaidyasala in January last year as an extension into the ayurvedic wellness segment.
The conglomerate, with interests across pumps, dyes, chemicals, travel and hair saloons, already has a string of companies operating in the health and wellness segment. It has cosmetic and dental care facilities in Singapore, Hong Kong and China through Evolve, a joint venture with Pacific Healthcare. It also has a herbal and cosmetic products manufacturing company, named Birla Life Sciences. There is also the Ashok Birla Apollo Hospital, a joint venture with the Apollo Group of Chennai for setting up a 300-bed hospital at Thane near Mumbai. There are also Birla Lifestyle hair and beauty salons.
Kerala Vaidyashala has its roots in Calicut district in Kerala, from where it branched out to open the first stay spa at Aluva near Kochi. The Vaidyashala, a brainchild of Kunhirama Kuroop, has a chain of 30 therapy centres across India.
“Our aim is to create a commanding and leading presence in the ayurvedic and herbal healthcare segment through focused investments and strategic acquisitions,” Yash Birla had said earlier.
BKV has earmarked Rs 50 crore for opening 200 centres, including own centres, franchise centres, high-end luxury stay spas, cruise spas and 19 economy centres across Maharashtra. The firm already has spa centres in Kerala, Goa, Mumbai Bangalore, Kolkata and Chennai. The company is targeting a turnover of Rs 500 crore within five years from organic growth. It was also planning an initial public offer by next year as part of expansion, said Kuroop.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
