Parle to buy a Polish company..!? Competing with Britannia..?

It has been reported that indian biscuit manufacturer Parle Products is in talks to buy Poland-based Dr. Gerard from private equity firm Bridgepoint. India's leading biscuit companies have decided to expand their business beyond India. Based on this, last month Britannia acquired a factory in Africa. Established in 1993, Dr Gerard manufactures over 200 different biscuits and savory snacks and exports them to over 30 countries. Parle could expand its business in a big way by buying Bridgepoint-controlled Dr. Gerard. Dr. Gerard's value is now reported at 10 billion to 12 billion rupees ($121.72 million to $146.07 million). Similarly, there is a possibility that the value may go up to Rs 24 billion when the takeover plan is discussed.Notably, in 2013, Bridgepoint acquired Dr. Gerard from France's Groupe Poult. Notably, it hired investment bank Houlihan Lokey to exit the business earlier this year, before the Russia-Ukraine war significantly reduced sales. India's largest biscuit maker, Britannia industries Ltd, a few days ago signed a deal to acquire some of its operations in kenya as part of its plan to expand its business in Africa. It has partnered with Nairobi-based Kenafric industries to buy Kenya-based Catalyst Capital-based Britannia Foods Ltd for $20 million. Britannia is a 130-year-old company and one of the leading brands of Good Day and Marie gold Biscuits in India. Britannia bought the company to boost its production and trade in Africa as African governments sought to reduce imports of locally produced goods. Britannia recently set up contract packing facilities in egypt and uganda and has new ventures in kenya and Nigeria.

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parle-G biscuits

Sowmiya Sriram

18/10/2022 05:25 PM