Marico sells 'Sil' to Denmark's Good Food Group
12 Mar 2008
Mumbai: Marico Ltd, a leading Indian Group in consumer products and services has said that it has sold its processed foods business, under the brand 'Sil', to Denmark's Good Food Group for an undisclosed amount.
The company wants to focus on its global beauty and wellness business. Good Food's Indian unit, Scandic Food India Pvt Ltd also gets a manufacturing unit near Pune as part of the deal. Marico will continue to distribute the Sil range of products for a period of one year, the Indian firm said in a statement.
Analysts predict Sil's valuation to be around Rs15 crore, which are twice its revenues of Rs8 crore. Sil's range of products includes jams, sauces, baked beans, Chinese vinegar, sweet corn soup and mayonnaise.
Marico is a Rs15.6 billion (2006-07) company that deals in fast moving hair care, skin care and healthy foods. The company owns India's top selling coconut hair oil brand Parachute, and also markets well-known brands such as Saffola, Sweekar, and Hair & Care, amongst others. It has also acquired hair care brands in South Africa and Egypt.