Rasoi Group mulling acquisition in FMCG space

"We are looking at acquiring an FMCG company in the $10 million range. Talks are in the initial stages but we hope to seal the deal before the end of this financial year," Rasoi Group's Director, Varunn Mody, said here today.     

"We are looking at both organic and inorganic growth as part of our expansion plans," Mody said.     

This proposed acquisition apart, the Rasoi group was also in talks with a couple of overseas companies in the consumer durables and healthcare sector for forging partnerships, he said.     

"We are in advanced stages of negotiations with some French and Spanish companies, which we hope to conclude shortly," Mody said.     

The acquisition would be financed partly through internal accruals and partly through loans from the financial institutions, he said, adding 'the group is cash rich and there is lot of cash flow to fund the acquisition.'     

J L Morison (India) Ltd, Rasoi Ltd and Hindustan Composite are part of the Rasoi Group with a presence in the personal and healthcare, edible and food products and real estate segments.