Goenka Group eyes Rs 6500 crore sales from its FMCG business

KOLKATA: RP-Sanjiv Goenka Group is eyeing over Rs 6500 crore sales from its just launched standalone fast moving consumer goods (FMCG) business over the next 3-5 years and in active negotiations with multiple FMCG companies for acquisition, group chairman Sanjiv Goenka said.

The Kolkata-headquartered conglomerate announced its entry into FMCG business on Monday with product available in over 20,000 outlets across kiranas and modern retail and online firms like Amazon. The products will be initially available in Pune, Kolkata and the National Capital Region, and will be subsequently taken pan-India.

Goenka said the group has plans to list family-owned business once it attains a certain scale. “FMCG is the most ambitious new venture of the group. While we are starting with packaged food, we will foray into personal care segments next fiscal which is currently under development. In foods, we will have products across categories including breakfast, dairy and beverages,” he said.

The group has been nurturing the standalone FMCG business for almost two years with professionals drawn from the industry as well as its retail venture, Spencer’s Retail. ET was the first to report the group’s foray into FMCG business last month.