Godrej eyeing FMCG acquisitions in China, Brazil, Indonesia

Hindustan Times

Mumbai, June 18 (PTI): The $1.7 billion Godrej Group is targeting at least two acquisitions every year in China, Indonesia and Brazil to expand its fast moving consumer goods (FMCG) business.

The group, which had recently taken over UK's Keyline, South Africa's Rapidol and home-grown Nutrine, is aiming at 25 per cent annual growth, of which five per cent is expected to come through acquisitions, the group's Chairman Adi Godrej told PTI here.

Acquisitions in these overseas markets will primarily be in the personal and household care segments, he said.

"Last year, our FMCG business grew by 30 per cent and we are aiming at at least two acquisitions a year to further fuel our growth," Godrej said.