Emami rules out buying Horlicks and Complan
Emami has been linked to the two brands with reports suggesting that the Kolkata-based firm is among the potential buyers for GSK Consumer Healthcare's Horlicks and Kraft Heinz's Complan. However, Emami Ltd Director Harsha V Agarwal denied such a possibility.
Home grown FMCG major Emami today said it was not in the race to buy health drink brands Horlicks and Complan, which are on the block.
Emami has been linked to the two brands with reports suggesting that the Kolkata-based firm is among the potential buyers for GSK Consumer Healthcare's Horlicks and Kraft Heinz's Complan. However, Emami Ltd Director Harsha V Agarwal denied such a possibility.
"We do not have any interest in this potential acquisition opportunity," he said in an e-mailed statement.
Leading FMCG firms such as Nestle, HUL and ITC are reportedly in the race to buy Horlicks and Complan. Earlier, this month Nestle India Chairman and Managing Director Suresh Narayanan had not ruled out any inorganic acquisition to spur growth.
"Today its a realm in the speculations. I think the realm malted food drinks is in the portfolio of the company. We cannot comment on that is clearly speculative." he had said. However, he had also said, "Any inorganic opportunity is certainly evaluated at Nestle."
Emami has been looking to enter into the fast growing food segment besides expanding in other verticals.
WATCH THIS ZEE BUSINESS VIDEO
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Liquor stock under Rs 300: Can this smallcap scrip double your money in 1-2 years? Check targets by Anil Singhvi
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
11:05 AM IST