New Delhi-based fast-moving consumer goods company Modi Naturals is looking to acquire companies in the ready-to-eat or healthy snacks space, going up to Rs 100 crore, which will align with its brand strategy, joint managing director Akshay Modi told Business Standard.
Why is Modi Naturals looking at acquisitions now?
“After the GST (goods and services tax) correction, the packaged foods category is exploding, and we would like to look at it, preferably on the healthy foods side,” he said, following the company’s listing on the National Stock Exchange which he said would enhance the company’s visibility, liquidity and access to a wider investor base.
How does the company plan to balance its diverse businesses?
The company, which has operations across consumer goods, bulk edible oils and feeds, and alcohol and ethanol manufacturing, will focus on growing the FMCG business through organic and inorganic routes even as its ethanol production business grows on the back of high demand and local processing capabilities. The company invested Rs 100 crore in its subsidiary to expand its ethanol production capacities.
