• Wed. Feb 21st, 2024

DS Group acquires Luvit chocolate maker The Good Stuff

DS Group acquires Luvit chocolate maker The Good Stuff

New Delhi: The Dharampal Satyapal Group (DS Group) on Tuesday announced the acquisition of Goldman Sachs and Mitsui Ventures-backed The Good Stuff Pvt Ltd. Formerly known as Global CP Pvt Ltd, the company sells chocolates and candies under the Luvit brand.

New Delhi: The Dharampal Satyapal Group (DS Group) on Tuesday announced the acquisition of Goldman Sachs and Mitsui Ventures-backed The Good Stuff Pvt Ltd. Formerly known as Global CP Pvt Ltd, the company sells chocolates and candies under the Luvit brand.

DS Group declined to share the deal value.

DS Group declined to share the deal value.

Subscribe to continue reading

DS Group Vice Chairman Rajeev Kumar said the company could scale the Luvit brand 500 crore from existing 100 crores. In a five-year period, its chocolates and confectionery business will grow a touch five-fold 5,000 crore, from 900 crore now, Kumar added.

DS Group entered the confectionery industry in 2012. Its portfolio includes brands like Pas Pas, Pulse, Chingles, Rajnigandha Silver Pearls and Mace. It recently partnered with Swiss luxury chocolate brand Lederach for its India entry. The group also has interests including a large pan masala business, apart from its presence in other consumer product segments such as spices and bottled water under the Catch brand.

The Good Stuff was started in 2014 by Arumukham Mahendran, a former executive at Godrej Consumer Products. Goldman Sachs and the Japanese conglomerate Mitsui invested more in investors through subsidiaries. 500 crores in the company. Mahendran resigned from the company in 2018.

The acquisition is in line with the Noida-based group’s plans to expand its confectionery portfolio while expanding its distribution to grocery and other retail outlets. The deal will strengthen the group’s presence in South India. LuvIt sells chocolate, crunchy wafers, fruit and chocolate flavored lollipops, eclairs, sugar coated chocolates and choco snacks.

“The DS Group has been focusing on increasing its presence in the confectionery segment for the past several years. The Luvit acquisition was a strategic decision to enhance our confectionery basket and enter the chocolate segment with an attractive footprint. This will enable us to expand our product portfolio and thereby reach new customers and markets,” said Kumar.

The Good Stuff reported over turnover 100 crore in the last financial year, with nearly 90% of sales coming from the brand Luvit.

The Indian confectionery market is valued at approx 23,000 crores.

DS Group was founded in 1929. It sells mouth fresheners, food beverages and confectionery products; It also has interests in hospitality, agri and luxury retail businesses. The portfolio of packaged consumer good brands includes Rajnigandha, Catch, Pulse, FRU, Mays, Ksheer, Pas Pas, Baba and Tulsi.

Leave a Reply

Your email address will not be published. Required fields are marked *