RP-Sanjiv Goenka Group

RP-Sanjiv Goenka Group recently acquired 70 percent stake in a Gujaratbased snacks company with an investment of Rs. 440 crore, terming it as the group’s entry point product in the FMCG market. “We have acquired 70 percent stake in Apricot Foods Pvt. Ltd. based in Rajkot with an investment of Rs. 440 crore. The brand E Vita is going to be a brand for entry point products,” group chairman Sanjiv Goenka told reporters on the sidelines of the company’s flagship company CESC. Goenka said the acquired company has a revenue of Rs. 200 crore with its own manufacturing facility in Rajkot and Hyderabad. “We have always had a strategy where there would be three segments of FMCG products. This will be a pocket friendly snack. The Too Yum – launched by the Group in January – is for the next category and then we are also planning to come up with something organic,” he said. The brand would be owned by the company’s FMCG vertical Guiltfree Industries.