November 06, 2024 02:40 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Union Minister HD Kumaraswamy booked for threatening cop probing into mining case | Supreme Court upholds validity of Uttar Pradesh Madrasa Education Act | Not all private properties are community resources that govt can take over: Supreme Court | Pakistan's Lahore has become world's most polluted city with an AQI of 1900 on Sunday | Indian Army 'successfully completes' patrolling to a key point in Ladakh's Depsang region
Rajnigandha pan masala maker DS Group buys chocolate brand LuvIT
LuvIt

Rajnigandha pan masala maker DS Group buys chocolate brand LuvIT

| @indiablooms | 06 Jun 2023, 11:15 pm

New Delhi: FMCG major DS Group, popularly known for making Rajnigandha pan masala, on Tuesday announced the acquisition of The Good Stuff Pvt Ltd, which owns the LuvIt Chocolate and Confectionery brand.

"This acquisition is a strategic move to grow and strengthen the Group’s Confectionary portfolio, whilst widening its distribution reach across grocery and other retail outlets," the company said in a statement.

The Good Stuff Pvt Ltd (formerly known as Global CP Pvt Ltd) was earlier owned by Goldman Sachs and Mitsui Ventures, according to the media release.

DS Group entered into the confectionery business in 2012 and has a strong assemblage of popular non-chocolate brands like Pass Pass, Pulse, Chingles, Rajnigandha Silver Pearls, Maze, and the recent partnership with luxury Swiss chocolate brand Läderach for its maiden launch in India.

“DS Group has been focusing on increasing its presence in the confectionary segment for the last many years. Acquisition of LuvIt was a strategic decision to enhance our confectionary basket and enter the Chocolate segment with an impressionable footprint. This would enable us to expand our product portfolio thereby reaching new consumers and markets too," said Rajiv Kumar, Vice Chairman, DS Group.

The Good Stuff Pvt Ltd was founded in 2014 and the company had a turnover of more than Rs 100 crores (F/Y 21-22) with nearly 90% contribution from the brand LuvIt.

"The Indian confectionery market is valued at approximately Rs 23,000 crores, out of which, chocolates as a category dominates with almost 60% share at Rs 13,800 crore. The Indian chocolate market is expected to grow at a CAGR of 6.69% till 2028," said DS Group quoting an industry report.

(With UNI inputs)

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.