Emami seeks overseas acquisitions

KOLKATA: Beauty and health products major Emami is seeking overseas acquisitions to drive the company's growth, besides tapping the rapidly growing Indian FMCG market.

"We are actively considering brand acquisitions abroad for which a blueprint has already been prepared," Emami Ltd Chairman R S Agarwal said while addressing the company's annual general meeting (AGM) at Kolkata today.

He said the company had, in the first quarter of the current fiscal, picked up 27.5 per cent stake in Zandu Pharmaceuticals "as part of a major strategic investment with an objective to be part of management control along with the existing promoters", and seeking acquisitions abroad is a follow-up to the company's growth plans.

Agarwal, however, did not elaborate the details of its overseas acquisition plans.

Emami is also looking to enhance its domestic position by improving its supply chain and sales besides adding new production facility.

"The company has set up a state-of-the-art manufacturing plant in Guwahati at an investment of Rs 40 crore," he said.

This would be the company's third major facility after the ones located at Kolkata and Poducherry.

"The company has engaged Ernst & Young to leverage enhanced value out of our supply chain, sales, distribution and human resources capabilities," he added.