Godrej Foods set to acquire Nutrine for Rs 270 crore

Godrej Foods and Beverages, the foods unit carved out of two other Godrej group companies, is set to buy Nutrine Confectionery for about Rs 270 crore in the largest single brand acquisition in the fast moving consumer goods industry, people familiar with the matter said.

e4m by exchange4media Staff
Published: Jun 13, 2006 6:39 AM  | 3 min read
Godrej Foods set to acquire Nutrine for Rs 270 crore

Godrej Foods and Beverages, the foods unit carved out of two other Godrej group companies, is set to buy Nutrine Confectionery for about Rs 270 crore in the largest single brand acquisition in the fast moving consumer goods industry, people familiar with the matter said.

Mumbai-based Godrej Foods will be joined in this transaction by IL&FS Investment Managers, the private equity fund promoted by IL&FS Financial Services. This will be the first-ever instance of a private equity fund teaming up with a large business house for a big domestic buyout.

Godrej, IL&FS and other associates will buy 100% of Nutrine Confectionery for about Rs 270 crore, valuing the Chittoor-based firm at 1.6 times its revenue and about 10-11 times its earnings before interest, tax, depreciation and amortisation (EBITDA). IL&FS is believed to have contributed about Rs 90 crore to the transaction. Shahzad Dalal, vice chairman and managing director of the fund, could not be contacted for comments.

Bangalore-based MAPE Advisory Group advised Godrej on the deal, people close to Nutrine said. RSM & Co conducted the due diligence on behalf of Godrej, they added. A senior Godrej group official declined comment.

The deal marks a complete exit from the sugar boiled confectionery business for the descendants of B Venkatrama Reddy, who founded the company in 1952. Nutrine has since then grown into a household name, especially in the southern region of the country.

The family had been open to selling the business for nearly a decade now. Cadbury and Nestle had sniffed at it in the 1990s and recently Actis, the UK-based private equity investor, had very nearly struck a deal.

Godrej's acquisition is the largest-ever single brand deal in the fast moving consumer goods industry, dwarfing Marico's purchase of Nihar coconut oil from Hindustan Lever for about Rs 216 crore.

Other deals such as Godrej's buyout of Transelektra (Rs 105 crore), Colgate's acquisition of Cibaca (Rs 131 crore) and Dabur's deal with Balsara Hygiene (Rs 178 crore) were smaller in size.

The deal gives Godrej an established, well-known brand in the sugar boiled confectionery business and in the overall foods sector.

Godrej Foods and Beverages was formed after a complex restructuring exercise within the Godrej group. Until March '01, the company was called Godrej Soaps. The consumer products business, comprising soaps such as Cinthol and hair dyes, was spun off into Godrej Consumer Products and Godrej Soaps was renamed Godrej Industries with the chemicals and foods business.

Then in '02, the manufacturing, sales and support functions of Godrej Foods were merged with GIL. But this set-up did not last long. When Pranab Barua, formerly of Hindustan Lever and Reckitt & Coleman, and A Mahendran of Godrej Sara Lee formed Godrej Tea, the group transferred the entire foods business of GIL to Godrej Tea. Godrej Tea has now been renamed Godrej Foods and Beverages.

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E4M Our strategy is to target younger audiences through Sports: Rajiv Dubey, Dabur

The Head of Media at Dabur India spoke exclusively to exchange4media on the World Cup, associating with Indian Idol, the company’s digital spending and much more

e4m by e4m Staff
Published: Oct 27, 2023 6:15 PM  | 1 min read
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With quirky campaigns, memes and moment marketing, timed with the ongoing World Cup and particularly the India-Pakistan matches, Dabur India has got considerable consumer attention for its popular brands – Red Paste, Cool King Hair Oil, Chyawanprash, Dabur Vita and the recently launched Bae Fresh Gel toothpaste.

The 140-year-old company is going big on key sporting events, World Television Premiere (WTP) movies and reality shows. It is now gearing up to become the title sponsor of popular talent show ‘Indian Idol’ on Sony TV for the first time, shared Rajiv Dubey, who leads the media strategy at Dabur.

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Swapan Seth's new book 'COOL' is out

The book is a reflection of the author's 'eclectic taste across categories'

e4m by e4m Staff
Published: Oct 27, 2023 6:07 PM  | 1 min read
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Advertising professional and art collector Swapan Seth has announced the launch of his new book COOL. The book is described as "a ready reckoner to the hip and the happening, of the known and the very unknown."

The book is a reflection of the author's "eclectic taste across categories: from boltholes to exotic hideaways."

COOL has been published by Simon & Schuster India and is available on Amazon.

Seth is an ad veteran with a long and illustrious career in the industry. He became the youngest-ever Creative Director at Clarion at age 24. He was VP at 26 at Trikaya Grey. Two years later, he started his agency Equus.

He writes for publications such as The Economic Times, Hindustan Times and India Today. This is his second book and he has previously published THIS IS ALL I HAVE TO SAY.

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Disney Star signs 9 sponsors for Asia Cup PAK

Charged by Thums Up, Nerolac Paint+, Amazon Pay, Jindal Panther, My11Circle, MRF, Samsung Galaxy Z Flip5, Wild Stone and Thums Up come on board

e4m by exchange4media Staff
Published: Aug 26, 2023 11:48 AM  | 1 min read
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e4m Staff Disney Star has signed nine broadcast and digital streaming sponsors for the upcoming Asia Cup.

Charged by Thums Up, Nerolac Paint+, Amazon Pay, Jindal Panther, My11Circle, MRF, Samsung Galaxy Z Flip5, Wild Stone and Thums Up have come on board for the upcoming tournament.
As reported earlier by exchange4media, Disney Star has sought Rs 26 crore for the co-presenting sponsorship on TV and Rs 30 crore for Disney+ Hotstar.

According to industry sources, the associate sponsorship on Star Sports has been priced at Rs 19.66 crore, whereas for the ‘powered by’ sponsorship on Disney+ Hotstar, the broadcaster is seeking Rs 18 crore.

As per the information available with exchange4media, Disney+ Hotstar has three sponsorship tiers-- co-presenting (Rs 30 crore), powered by (Rs 18 crore) and associate sponsorship (Rs 12 crore). The broadcaster is offering an estimated reach of 120-140 million for co-presenting sponsors, 90-100 million for powered by and 60-70 million for associate sponsorship.

A spot buy for 10 seconds has been priced at Rs 25 lakh for the India vs Pakistan matches, while for the non-India matches, the ad rate for 10 second is Rs 2.3 lakh. The India matches plus the final for ODIs has been priced at Rs 17 lakh per 10 seconds.

Asia Cup is scheduled to be held from 30 August, 2023, to September 17, 2023.

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Sorted 360 wins creative & social media mandate of Reliance Mall

The agency will manage offline and online campaigns for Reliance Mall

e4m by exchange4media Staff
Published: Aug 26, 2023 10:54 AM  | 1 min read
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Sorted 360, an integrated creative and social media agency, has won the mandate to providing brand solutions for Reliance Malls across India.

“Sorted 360 is set to enhance Reliance Malls' market presence with their unparalleled creative prowess and strategic thinking,” read a press release.

“Sorted 360's commitment to pushing the boundaries of creative communication aligns perfectly with Reliance Malls' ethos. With a pan-India presence spanning across 19 cities and growing, Reliance Malls has consistently captivated customers by offering an array of Reliance brands and third-party fashion & lifestyle brands. The mall has established an unparalleled connection with its patrons through superior quality, a remarkable value proposition, and an unmatched shopping experience,” it read further.

"We are thrilled to welcome Sorted 360 as our trusted partner in advancing our brand presence across the nation," said the Head of Marketing at Relaice Malls. "Their proven expertise in retail, shopping center management, and innovative creative strategies make them the perfect fit for our vision."

"Partnering with Reliance Malls is a testament to our commitment to shaping extraordinary brand experiences," remarked Prerana Anatharam, Co-founder of Sorted 360. "We are excited to leverage our strategic and creative acumen to further elevate Reliance Malls as the epitome of convenience, choice, and excellence."

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e4m by exchange4media Staff
Published: Aug 25, 2023 4:39 PM  | 1 min read

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e4m by exchange4media Staff
Published: Aug 25, 2023 4:38 PM  | 1 min read

KlugKlug onboards Hemang Mehta as Country Manager for Indias

Mehta was most recently Head of Agency Relationships at Network 18 Media & Investments

e4m by exchange4media Staff
Published: Aug 24, 2023 3:35 PM  | 1 min read
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KlugKlug has appointed Hemang Mehta as its Country Manager for India.

Mehta will play a pivotal role in driving KlugKlug's growth and expansion within the Indian market and be responsible for Sales & GTM Strategy

Prior to that, he has also represented organisations like Exponential (now VDX.tv), India Today Digital and Rediff.com. His expertise spans various domains including digital media sales, mobile marketing, media planning, and buying, social media marketing, and more.

Hemang Mehta expressed his enthusiasm about joining KlugKlug, saying, "I am thrilled to be a part of KlugKlug, a forward-thinking platform that is reshaping the influencer marketing landscape. As much as I look forward to collaborating with the exuberant team at KlugKlug, I am super excited to interact with the brands to deliver powerful data-backed Influencer solutions that will guarantee business outcomes."

Commenting on the appointment, Kalyan Kumar, Co-Founder and CEO of KlugKlug, stated, "We are excited to welcome Hemang Mehta to our team as the Country Manager for India. His extensive experience in digital media sales and marketing will be instrumental in driving our efforts to provide influencer marketing solutions to our clients. We believe Hemang's leadership will be key in scaling our operations and expanding our reach within the Indian market."

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