KOLKATA: ITC chairman Y C Deveshwar and MD Sanjiv Puri on Friday made it clear that it is prepared to procure Horlicks from GSK's shopper vitamin business if the malted meals beverages (MFD) brand is obtainable "at a right price." Horlicks is the most important MFD brand in India. However, Puri indicated that ITC isn't enthusiastic about Complan, an MFD brand of Kraft-Heinz, that may be up on the market, in line with reviews.
At the company’s annual general meeting (AGM) here, Deveshwar said ITC is enthusiastic about acquiring it but no longer at a high value. Later, Puri indicated that bidding for Horlicks is also slotted for August.
However, an ITC supply later indicated that the company is more likely to bid for the entire shopper vitamin business of GSK, which incorporates manufacturers like Maltova, Boost and Viva aside from Horlicks. "As GSK is selling the entire consumer business, then we may bid for it," the supply added. Horlicks is the flagship brand of GSK’s shopper business with a earnings of over Rs 2,300 crore. Complan is a way smaller brand with Rs 700-800 crore in earnings.
In March this year, GSK had said the company would conduct a strategic evaluation of its shopper vitamin business. The bidding process for the $four billion business can be treated from GSK’s global headquarters in London. HUL, Nestle, Coca-Cola, together with Danone, were reportedly interested about GSK shopper vitamin manufacturers.
Earlier, Deveshwar also indicated that the city-based diverse conglomerate would undoubtedly get into a well being drink phase. "We may look for a health drink. It can be a protein supplement or protein-based milk drink. The company can develop it organically. For acquisition, we shall look for a fair valuation," he added.
The FMCG-to-tobacco-to-hotel major is restructuring its lifestyle retail business which, in line with the ITC MD, has no longer been performing in line with expectations.
Earlier, elaborating plans for various new FMCG segments, Puri said ITC is restructuring the way of life retailing business. As consistent with assets, this business is now worth Rs 500 crore. It has 350 shops throughout more than one channels and its major manufacturers - Wills Lifestyle and John Players. "The lifestyle retail has not performed as per our expectation and has not been scaled up. We are looking at various options to restructure the business," he added.
When requested about whether it may go out the way of life retailing business, Puri said that the company has no longer yet made up our minds on the sort of possibility.
Commenting at the growth of meals business, the ITC MD said that it is getting into into Rs 2,000 crore ready-to-cook frozen snacks phase underneath the ITC Master Chef brand. "We shall introduce both veg and non-veg categories," he added. The different major players in this phase, which is growing at 15 consistent with cent, come with Godrej Tyson Foods. "We have started with B2B in this segment but will enter retail now," he added.
Some of the meals manufacturers of ITC, like Sunfeast, Bingo, Aashirvaad have already crossed Rs 2,000 crore mark. Aashirvaad is now a Rs four,000 crore brand while Sunfeast is Rs three,500 crore brand. Puri indicated that like remaining year when ITC entered into four new categories, this year also it would enter four categories. The company has entered into frozen meals and flooring cleaner already.
At the company’s annual general meeting (AGM) here, Deveshwar said ITC is enthusiastic about acquiring it but no longer at a high value. Later, Puri indicated that bidding for Horlicks is also slotted for August.
However, an ITC supply later indicated that the company is more likely to bid for the entire shopper vitamin business of GSK, which incorporates manufacturers like Maltova, Boost and Viva aside from Horlicks. "As GSK is selling the entire consumer business, then we may bid for it," the supply added. Horlicks is the flagship brand of GSK’s shopper business with a earnings of over Rs 2,300 crore. Complan is a way smaller brand with Rs 700-800 crore in earnings.
In March this year, GSK had said the company would conduct a strategic evaluation of its shopper vitamin business. The bidding process for the $four billion business can be treated from GSK’s global headquarters in London. HUL, Nestle, Coca-Cola, together with Danone, were reportedly interested about GSK shopper vitamin manufacturers.
Earlier, Deveshwar also indicated that the city-based diverse conglomerate would undoubtedly get into a well being drink phase. "We may look for a health drink. It can be a protein supplement or protein-based milk drink. The company can develop it organically. For acquisition, we shall look for a fair valuation," he added.
The FMCG-to-tobacco-to-hotel major is restructuring its lifestyle retail business which, in line with the ITC MD, has no longer been performing in line with expectations.
Earlier, elaborating plans for various new FMCG segments, Puri said ITC is restructuring the way of life retailing business. As consistent with assets, this business is now worth Rs 500 crore. It has 350 shops throughout more than one channels and its major manufacturers - Wills Lifestyle and John Players. "The lifestyle retail has not performed as per our expectation and has not been scaled up. We are looking at various options to restructure the business," he added.
When requested about whether it may go out the way of life retailing business, Puri said that the company has no longer yet made up our minds on the sort of possibility.
Commenting at the growth of meals business, the ITC MD said that it is getting into into Rs 2,000 crore ready-to-cook frozen snacks phase underneath the ITC Master Chef brand. "We shall introduce both veg and non-veg categories," he added. The different major players in this phase, which is growing at 15 consistent with cent, come with Godrej Tyson Foods. "We have started with B2B in this segment but will enter retail now," he added.
Some of the meals manufacturers of ITC, like Sunfeast, Bingo, Aashirvaad have already crossed Rs 2,000 crore mark. Aashirvaad is now a Rs four,000 crore brand while Sunfeast is Rs three,500 crore brand. Puri indicated that like remaining year when ITC entered into four new categories, this year also it would enter four categories. The company has entered into frozen meals and flooring cleaner already.
ITC keen to buy Horlicks at ‘right price’
![ITC keen to buy Horlicks at ‘right price’]()
Reviewed by Kailash
on
July 28, 2018
Rating:
