Zydus Cadila acquires 15 per cent stake in margarine company

New Delhi, Mar 17 (UNI) Pharma company Zydus Cadila has acquired a 14.96 per cent stake in Gujarat-based Carnation Nutra-Analogue Foods Ltd, the manufacturers of Nutralite, India's largest selling margarine.

The company has also made a public offer to acquire additional 20 per cent stake in Carnation Nutra-Analogue Foods Ltd to raise its holding. The acquisition includes the company's manufacturing plant.

Nutralite, which currently enjoys a market share close to 60 per cent, will be marketed by Zydus Cadila's Consumer Products Division.

Speaking on the new development, Zydus Cadila Chairman and Managing Director Pankaj R Patel said, ''We have market leadership in the sweetener segment through our brand Sugar Free and we see this acquisition as an excellent synergistic opportunity to offer a healthy dietary supplement.'' Carnation Nutra-Analogue Foods Ltd has a strong network of 350 distributors and it posted a turnover of Rs 30 crores in 2005-06.

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