Godrej Beverages & Foods to acquire Nutrine

Godrej Beverages and Foods is all set to acquire Chittoor-based Nutrine Confectionery for around Rs 270 crore.

Godrej Beverages and Foods would acquire 100% stake in Nutrine jointly with IL&FS investment managers and other associates, sources said.

Company officials were, however, not available for comment. A formal announcement on the deal is likely to take place tomorrow, the sources said.

Nutrine is estimated to have a marketshare of close to 34% in the confectionery segment.

Nutrine exports confectionery, chewing gums and fruit bars to Canada, Malaysia, Mauritius, Myanmar, Mozambique, New Zealand, Nepal, Norway, Saudi Arabia, Singapore and Sri Lanka.