Godrej to Announce Acquisitions

Godrej Consumer Products Ltd may announce some acquisitions as early as in the financial year beginning April, a top official said on Tuesday. The company has been scouting for acquisitions in personal care products, haircare space and household categories. “We are looking at several acquisitions and we hope to announce some early in the next financial year, depending on how the negotiations go,” Chairman Adi Godrej told Reuters via telephone.

The consumer products maker also plans to raise its advertising spend by 25 percent in the coming fiscal but has no plans to raise product prices, he said. The group’s real estate arm Godrej Properties, which recently sold shares in an IPO, is also looking at about 15 more joint venture projects, he said. “Most of our projects are joint ventures with land owners, wherein we share either the profits, the area or the revenue. We have completed at least 15 such joint ventures and we are doing at least 15 more,” he added.

News Published Under:   Real Estate India |

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