Godrej Consumer readying Rs1,000-crore war chest to expand operations

The Indian fast moving consumer goods (FMCG) major Godrej Consumer Products Limited (GCPL) is looking for acquisitions amounting to Rs1,000 crore to expand its operations in China, Latin America, Africa, Far East and West Asia, the company said yesterday.

"We are looking at acquisitions internationally and domestically in high-growth markets. It (amount earmarked for acquisitions) is up to Rs1,000-crore," GCPL  vice-chairman Hoshedar K Press said.

''Negotiations are on but nothing has been finalised yet. We are also in talks with merchant bankers to ink some good deal,'' he added.

It is reported that the FMCG major, which owns brands like Cinthol, has been scouting for companies in the hygiene, personal and hair-care segments.

Last month GCPL managing director Dalip Sehgal said that the company is in the process of consolidating its operations with two of its existing joint venture companies.

The consolidation will help bring synergy in supply chain management, modern trade and other rural initiatives besides cutting cost, he added.