RP Sanjiv Goenka Group looks at $1 bn business in FMCG

Kolkata, April 10 (IANS) RP Sanjiv Goenka Group, which has forayed into the FMCG sector, is looking at $1 billion business in the next five years, a company official said on Monday.

To begin with, the company will launch two products -- foxnuts and wheat thins -- under the brand name 'Too Yumm' in Kolkata, Pune and Gurugram this month.

"We are aiming to build a $1 billion business in the FMCG space in five years," Group's Chairman Sanjiv Goenka said here.

The plan is to launch 10 products with 40-50 variants in 12 months and the company is looking to expand 30-40 cities in a year, he said, adding that the packaged food business has been introduced under Guiltfree Industries.

He said the products will be available initially in the 15,000-20,000 outlets in the three cities and the same will be available in more outlets across many cities.

"We are also looking at acquisitions and are in dialogue with several companies in the FMCG space. We are hungry for acquisitions," Goenka said, adding that it is looking at Rs 10,000 crore investments in 5-7 years for acquisitions, developments of manufacturing facilities and brand developments.

Launched with food products, it plans to introduce other categories like personal care and healthcare in the FMCG space over the years.

Goenka said it would introduce premium range of food products in 6-12 months.

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