Nestle will do more acquisitions, also big ones, the food giant’s chief financial officer said on Wednesday. “We have been very disciplined, but that has not prevented us from doing sizeable acquisitions –...
Norway’s Orkla buys spice maker Eastern
Norway’s packaged consumer goods firm Orkla said it will purchase a 67.8% stake in Kerala-based spice maker Eastern Condiments Pvt. Ltd and merge it with its existing MTR Foods business to create a larger enterprise...
ITC plans to merge three subsidiaries with itself, board meeting in a week
Diversified business entity ITC on Friday said it is considering merger of its three wholly-owned subsidiaries – Sunrise Foods, Hobbits International Foods and Sunrise Sheetgrah – with itself. A board...
ITC acquires spices maker Sunrise Foods in all-cash deal for Rs 2,150 cr
Diversified business entity ITC Ltd on Monday announced acquisition of spices manufacturer Sunrise Foods Private Ltd (SFPL) in an all-cash deal valued at Rs 2,150 crore. According to the company, it has acquired shares...
Bombay High Court upholds single bench ruling in Hindustan Unilever-Emami row
The Bombay High Court dismissed Emami’s plea challenging a single bench’s order directing the Kolkata-based company to provide seven days prior notice before initiating legal proceedings against Hindustan Unilever or...
Modern Food eyes consolidation opportunities in bread, bakery market
Private equity firm Everstone Group-owned FMCG business Modern Food Enterprises Pvt. Ltd is eyeing consolidation opportunities in the bread and bakery industry as the covid-19 pandemic has disrupted smaller regional...
Dabur’s Pradip Burman sells off nutraceutical firm Sanat Products to Willmar Schwabe
Pradip Burman, chairman of The Mobius Foundation and senior member of the industrialist group Dabur, has divested nutraceutical firm Sanat Products to the India subsidiary of German company Dr Willmar Schwabe GmbH for...
ITC partners with Amway India to sell new immunity beverage
ITC Ltd has partnered with direct selling company Amway India for distributing its new immunity beverage to stay relevant and to compete with rivals Dabur, Coca Cola and PepsiCo in the breakfast market this summer...
ITC’s biggest acquisition is a Kolkata-based spices maker. What analysts say
Shares of ITC climbed over 4 per cent in Tuesday’s trade, as analysts believe its decision to acquire spices manufacturer Sunrise Foods Private is a strategic fit, and signals the company’s intent to make...
ITC acquires Sunrise Foods to strengthen spice business
ITC Limited is going to acquire Kolkata-based packaged spice firm Sunrise Foods which it said will help to scale up the FMCG business. The size of the deal was not revealed. The share purchase agreement was finalized on...
How GSK-HUL deal has ended up being a win-win for shareholders
When it comes to mergers and acquisitions using share swaps, there can always be a slip between the cup and the lip. For instance, a deal can be struck assuming the acquirer’s shares will trade at a certain value. But...
GSK selling $3.45 bln stake in Hindustan Unilever: Source
GlaxoSmithKline is selling $3.45 billion worth of shares in Unilever’s Indian business on the open market, one of the bookrunners organising the transaction told Reuters. The 5.7% stake in Hindustan UnileverNSE -1...
