Godrej Beverages

New Delhi, Jun 14: Godrej Beverages and Foods Ltd (GBFL), an associate of Godrej Industries Ltd, today announced that it will acquire Nutrine Confectionery Company Private Ltd.

The deal will be funded by a mix of fresh equity and debt.

''The acquisition gives Godrej an entry into the fast growing organised confectionery market in India and will help to enhance its turnover to over Rs 400 crore per annum'', Godrej group Chairman Adi Godrej said.

Acquisitions of such profitable businesses and strong brands that are synergistic with our core business segments will continue to be our strategy for strengthening our foods businesses, he added.

Godrej Beverages and Foods Limited Director Mahendran opined that we are moving ahead to achieve the vision of becoming Rs 1000 crore company through organic as well as inorganic growth.

Nutrine Confectionery with a turnover of Rs 182 crore has a range of strong sub-brands like Maha Lacto, Milk Eclairs, Honey Fab, Aam Ras, Gulkand and Koko Naka.

UNI