New Delhi: Dabur India, the maker of everyday use consumer products (FMCG), is now preparing to enter the spice market. With the September quarter results released, the company has announced buying stake in Badshah Masala. Dabur has announced to acquisition 51 per cent stake in Badshah Masala for Rs 587.52 crore.
Dabur has signed a definitive agreement to acquire 51 per cent stake in Badshah Masala Pvt Ltd, a joint statement said. After this deal, Dabur India will own the Badshah Masala. According to the joint statement, Badshah Masala manufactures, sells and exports ground spices, mixed spices and other food products. Dabur India has informed the stock exchange that this acquisition is in line with the company's strategic intention to enter new categories of the food sector. Dabur India has said that the deal has been done for a 51 per cent equity stake for Rs 587.52 crore.
The value of Badshah Masala for this deal was Rs 1,152 crore. The company said that the remaining 49 per cent stake would be acquired after five years. With this acquisition, Dabur India intends to grow its food business to Rs 500 crore in three years, the company said.
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