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Food company Annapurna acquires 'Arati' edible oil brand for Rs 28 cr

Packaged food company Annapurna Swadisht Ltd on Wednesday announced that it has acquired the six-decade-old 'Arati' brand mustard oil from R R Proteins and Agro Ltd (RRPAL) for a consideration of Rs 28 crore. The acquisition would help the company foray into the edible oil segment and strengthen its FMCG portfolio. The estimated amount of Rs 28 crore includes the cost of acquisition of manufacturing unit and the brand, a company official said. The funding for the deal would be a combination of internal accruals and debt, he said. RRPAL has a production capacity of 9 lakh litres of oil per month, and the acquisition will enable Annapurna Swadisht to enter a new business vertical of edible oil, he said. "We believe that acquisition offers an opportunity that aligns well with the company's overall strategy of becoming a formidable player in the packaged food industry in the semi-urban and rural markets of India," Annapurna Swadisht Ltd (ASL) Managing Director Shreeram Bagla said. Th

Slowdown in growth trends, valuations near term hurdles for Dmart

Globally it is among the lowest cost retailers. DMart deliberately went slow on private-labels in order to avoid being seen to compete with suppliers and key brands

Electoral bonds: 100 listed firms across 32 sectors are donors, shows data

The top five sectors accounted for over 60 per cent of the total donations

No plans to sell SUUTI stake in FMCG player ITC, says Dipam Secretary

The government has no plans to sell its part stake in ITC, held through SUUTI, amid BAT paring its stake through a block deal in the Kolkata-based FMCG player, a top official said on Wednesday. As on December 31, 2023, Specified Undertaking of Unit Trust of India (SUUTI) held around 7.82 per cent stake in the diversified conglomerate ITC. "There is no such plan at the moment," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey told PTI. SUUTI last pared a stake in ITC in February 2017, when two per cent equity was sold at a price of Rs 291.95 per share via block deal. In a block deal, two parties make a transaction involving shares worth at least Rs 5 crore. Block deal transactions are conducted in a separate trading window. British multinational BAT Plc on Tuesday said it plans to sell up to 3.5 per cent stake in India's ITC Ltd to institutional investors through a block trade. Following this, the shareholding of BAT will come down to 25.5

FMCG sector to see subdued growth till Sept quarter of 2024: Kantar report

The fast-moving consumer goods sector will have a "subdued" growth till September quarter in 2024 due to factors including an uncertain outlook for the agricultural sector, said a report from data, insights, and consulting firm Kantar. The agricultural sector has uncertainty and the upcoming general elections would not surge the consumption of FMCG (fast-moving consumer goods) products, according to Kantar Worldpanel's FMCG pulse report. But it expects growth to get "progressively" better after September, and the year might yet turn good, especially in the second half, helped by good Rabi harvests. Some summer-related categories and even laundry products will help the industry to an extent, however, the growth in these categories combined will have a negligible impact on overall FMCG, it added. "As a result, we do see FMCG growth to be subdued, at least until Q3 of 2024. Keeping in mind the stronger first half of 2023, we may even end up seeing some stagnation in the early part of

On road to IPO, Udaan saw sales of over 2.25 billion products in 2023

1,500 sellers reach Rs 1 cr in transactions on eB2B platform

PepsiCo India looking to capture bigger share of potato-based chips market

The potato chips market is valued at Rs 9,000 crore, with PepsiCo's Lay's brand as the dominant player

British American Tobacco 'actively' looking to monetise ITC stake

We want to keep a level of influence in ITC, says BAT chief

Volume may better for India biz from July: Unilever CEO Hein Schumacher

Hein Schumacher, chief executive officer of Unilever, informed investors after its earnings report that they expect the volume growth for HUL to be in a similar range as witnessed in Oct-Dec qtr

Nestle investing Rs 6,000-6,500 cr to expand manufacturing in India: CMD

FMCG major Nestle is expanding its manufacturing footprints and operations in India, for which it will end up investing Rs 6,000 to 6,500 crore between 2020-2025, to meet the growing demand, its India Chairman and Managing Director Suresh Narayanan said on Wednesday. From its inception here to 2020, Nestle India has invested Rs 7,000 crore but the investment in the last five years by the company is more than what it had done in the last 20-25 years, said Narayanan in a media round table here. Earlier, Nestle India had announced to invest Rs 2,000 crore between the years 2000 to 2020 and again in 2022, it announced to invest Rs 5,000 crore on expansion, which was to be invested by 2025. "So if you take out the common years in the middle of the investment, the net investment would have been about Rs 5,800 crores. We are well on that track. I think Rs 3,200 crore has already been invested between 2020 and 2023," said Narayanan. Nestle India, which owns popular brands such as Maggi, ..

HUL to make key changes to its management committee, effective from April 1

HUL has appointed Shiva Krishnamurthy as Executive Director of its Foods and Refreshment division. It has also appointed Srinandan Sundaram as the Executive Director, Homecare

Nestle India results: Net rises 4.4% in Dec qtr stirred by Nescafe success

Strong demand for Nescafe classic and Nescafe sunrise drives double-digit growth of beverage portfolio

Interim Budget 2024: FMCG companies poised for rural demand revival

Budget schemes to revive demand over a period of time

Plateful of vision: Sanjiv Puri takes us through ITC's ambitious menu

Puri notes that tax stability in recent years has allowed the cigarette industry to recover from illicit trade, a trend that has been unfolding over several quarters

FMCG companies likely to cash in on Korean noodles trend in India

According to the latest data shared by consumer intelligence firm NielsenIQ, the size of the Korean noodles market has surged from ₹2 crore in 2021 to over ₹65 crore in 2023

No rebranding plans for Ching's Secret, Smith & Jones, Organic India: Tata

Tata Consumer is set to acquire a controlling stake in Organic India at a valuation of Rs 1,800 crore and a 75 per cent stake in Capital Foods at a valuation of Rs 5,100 crore

Tata Consumer Products plans Rs 3,500 cr rights issue for acquisitions

TCPL aims to diversify into high-margin, value-added food segments beyond commodities through its acquisitions of Capital Foods and Organic India, valued at Rs 7,000 crore

TCPL to fund 2 acquisitions with cash reserve, bridge financing: MD D'Souza

Tata Consumer Products (TCPL) would fund its acquisitions of Capital Foods Ltd and Organic India Ltd having a combined enterprise value of Rs 7,000 crore, through internal cash reserve and bridge financing, MD and CEO Sunil D'Souza said on Sunday. Both the acquisitions operate in areas which offer "huge runway for growth", where margins are "far accretive" and business is growing at a healthy pace, he said. Besides, TCPL will continue to strengthen its portfolio in the food & beverage segment organically to fill the gaps but it will also scout for inorganic growth opportunities if someone offers a better brand, technology and team, he added. Last Friday, TCPL announced complete acquisition of Capital Foods, which owns brands like Ching's Secret and Smith & Jones, at an enterprise valuation of Rs 5,100 crore and Fab India-backed Organic India, which operates in the health and wellness category, at an enterprise value of Rs 1,900 crore. The Tata Group FMCG arm would fund half of

Some Maharashtra distributors to stop stocking of HUL's Taj Mahal tea

AICPDF has also asked for a provision in the software system to prevent billing to outlets without valid FSSAI licenses

Liquor stocks raise a toast to premiumisation trends, margin gains

Already outperformers in FY24, leading listed players may witness further uptick, say analysts