Cavinkare eyes buying ready-to-eat food brands by early 2007

New Delhi, Oct 5 (UNI) Chennai-based FMCG player CavinKare with names like Nyle, Chik, Fairever and Spinz under its belt today said it is looking at acquiring ready-to-eat health food brands to add to its foods portfolio by early 2007.

The company has a range of masalas, ready mixes and a health food range under the brand name Ruchi and Chinni's.

Besides, the company launched its 'Tex' toilet cleaner which holds a 10.5 per cent market share in Tamil Nadu in the homecare hygiene segment in the northern market.

''The market for the toilet cleaning products is growing at 31 per cent per annum with liquid cleaners accounting for 97 per cent of the share. We anticipate a jump of 10 per cent in our turnover with our new product in the current fiscal,'' Cavinkare CMD C K Ranganathan told reporters here.

CavinKare is targeting a turnover of Rs 725 crore in 2006-07 compared to Rs 570 crore in the last fiscal. It collected a revenue of Rs 25 crore from the markets overseas last year and plans to raise it by 40-45 per cent during the current fiscal.

The product, available in Rs 2-sachets of 20 ml as well as in bottles of 100 ml and 500 ml priced at Rs 10 and Rs 38 respectively, is all set to compete with the multinational brands in the market, Mr Ranganathan said adding that the product will be distributed across 2,00,00 outlets across India.

Its market share in talcum powder stands at 6.5 per cent and three to four per cent in the deodorants segment.

The company also plans to tie-up with NGOs and educational institutions to promote the product and create awareness among people about sanitation and cleanliness, CavinKare Vice President (Marketing) Ramesh Viswanathwan said.

Cavinkare Private Ltd has three distinct small business units for its personal care, foods and international business. The divisions operate on diversified product portfolio like shampoos, deodorant and talc, masalas and ready mixes, hair dyes and toilet cleaners etc.

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