Godrej signs pact for acquisition of Nutrine Confectionery

Mumbai, June 14 (UNI) Godrej Beverages and Foods Ltd(GBFL), an associate of Godrej Industries, today signed a definitive agreement to acquire 100 per cent stake of Nutrine Confectionery Company Private Ltd.

Speaking at a function here, Godrej Group Chairman Adi Godrej said ''this acquisition is a strategic fit in our growing portfolio of the foods and businesses and gives us ready access to a strong portfolio of confectionery brands as well as the distribution system which nutrine has built.'' Further, he continued that the experience and skills of nutrine and GBFL complement each other well. ''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.'' Mr Mahendran, Director of the Company said with this acquisition GBFL is quickly moving ahead to achieving its vision of becoming Rs 1,000 crore company through organic as well as inoorganic growth. ''Nutrine is a leading confectionery brand and its acquisition will help us get a firm foothold in the market,'' he said adding 'Godrej's financial, marketing and management strengths will help the further growth of nutrine in the years to come.'' UNI VD PM VKG2015