Godrej group on the lookout for acquisitions

PTI

The Godrej group, with three companies in its fold, is looking for acquisitions in developing countries of Asia, Africa and South America.

"We are giving a strong emphasis on inorganic growth. We are also looking to acquire businesses in the developing countries of Asia, Africa and South America," Chairman of Godrej group Adi Godrej said.

He said the group had already acquired some businesses in the past few years, adding that organic growth had suppressed of late.

Spelling out the group's vision of ten times growth in ten years, he said the acquisitions would be mainly in the personal and household care segments.

"There is no budget fixed for acquisitions. We hope to fix the deals this financial year," Godrej told reporters at a chat here last evening.

The Godrej group with its three companies - Godrej Industries, Godrej Consumer Care and Godrej Agrovet - commands a customer base of 75 crore within India and 1.1 billion globally.

He said globally, businesses were down and thus valuations low and "this is the right time to acquire".

About the outlook on consumption growth, he said with good monsoon, consumer offtake was likely to pick up from the current quarter.