ITC's acquisition on Sunday of Kolkata-based Sunrise Foods, market leader in spices in eastern India is in line with the cigarette major's focus on expanding the non-tobacco FMCG business. While the deal value was not revealed, some analysts peg it at Rs 1,500-2,500 crore.
Analysts say, the step improves the growth outlook of ITC’s FMCG business which includes popular brands like Aashirvaad, Bingo!, Yippee!, Sunfeast, etc. While the deal is in the right direction, dominance of cigarette business continues, and hence, remains a key concern given the pressure on volumes. ...
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST Rs
Key stories on business-standard.com are available to premium subscribers only.
Already a premium subscriber? LOGIN NOW
First Published: Mon, May 25 2020. 19:00 IST
