To boost revenue from its non-cigarette FMCG segment, cigarettes-to-hotels conglomerate ITC Ltd is in the process of acquiring the Nimyle brand of floor cleaner from Arpita Agro Pvt Ltd (AAPL). Sources aware of the...
FMCG
Patanjali sweetens bid for Ruchi Soya
Patanjali Ayurveda has raised its bid to acquire Ruchi SoyaNSE 2.42 % and had made the revised offer to the Committee of Creditors (CoC) for the debt ridden company, sources said. The latest bid is around 30 per cent...
ITC merges tobacco leaf, agri-business units
ITC BSE -0.09 % merged its tobacco leaf and agri-business divisions to scale it up, considering the critical back-end support the combination could provide to the conglomerate’s expansion in the FMCG sector...
Nestle opens door to a possible L’Oreal stake sale as growth slumps
Nestle SA Chief Executive Officer Mark Schneider needs to keep filling his shopping cart. The Swiss owner of Nespresso coffee and Perrier water said it plans “active portfolio management” after its weakest sales growth...
Jyothy Laboratories open to new partnerships post Henkel break-up
Consumer goods major Jyothy Laboratories — best known for brands such as Ujala and Henko — is open for new partnerships following a breakdown in talks with German company Henkel last year. Henkel’s window to...
Eveready forms FMCG JV with Indonesia’s Universal Wellbeing
Dry cell battery maker Eveready IndustriesBSE 0.10 % India (EIIL) on Wednesday said it has entered into a joint venture (JV) with Universal Wellbeing Pte Ltd, to engage in the business of manufacturing, importing and...
Nestle to pick U.S. chocolate business buyer by end of week: sources
Food giant Nestle NESN.N plans to pick a buyer for its U.S. chocolate business by the end of this week, three sources close to the matter said on Wednesday, in a deal expected to top $2.5 billion. Italy’s Ferrero is...
Panel approves Bajaj Hindusthan Sugar’s debt recast
An Indian overseeing committee has approved a proposal submitted by a group of lenders, led by State Bank of India, to restructure an Rs 8,285 crore ($1.3 billion) debt of Bajaj Hindusthan Sugar Ltd. According to the...
McLeod Russel offloads stake to reduce debt burden of Rs 791 cr
Taking advantage of the ongoing rally in shares of tea companies, McLeod Russel, the world’s largest producer, offloaded 9.14 percent of its stakes in the open market. It raised over Rs 200 crore in a day’s...
South Korea’s Lotte Confectionery to buy Havmor’s ice cream business for Rs 1,020 crore
Lotte Confectionery of South Korea made a foray into the Rs 5,000-crore ice cream market in India on Thursday by signing a deal to buy 100% of homegrown ice cream brand Havmor for Rs 1,020 crore in an all-cash deal...
Unilever arm invests Rs 65 crore in IDG Ventures
Unilever Ventures, an investment arm of Unilever Plc, has put Rs 65 crore ($10 million) into the IDG Ventures India Fund during the year, demonstrating its intent to bankroll consumer-technology, innovation and digital...
Wipro Consumer Care to invest in Happily Unmarried
Wipro Consumer Care, the personal care arm of Wipro Enterprises, has agreed to invest an undisclosed amount in consumer products firm Happily Unmarried Marketing Pvt. Ltd. Happily Unmarried sells a portfolio of men’s...
