Best Foods in talks to divest minority stake, enters ready-to-eat segment
Best Foods is in discussions with private equity companies to divest minority interest as the former…Best Foods is in discussions with private equity companies to divest minority interest as the former enters ready-to-eat segment in India.
Best Foods CEO Aayushman Gupta told PTI that the company plans to bring in a partner that will help expand its business.
"We are going to aggressively market our ready-to-eat foods range," Gupta added.
However, details of the level of stake dilution have not been divulged.
In May, the company has already piloted the new ready-to-range products, and is now officially launching the same across the country.
"The segment has a huge growth potential considering changing lifestyles and demographics. We are venturing into this segment with 17 products to start with. We may expand the range going forward," Gupta told PTI.
Best Food is aiming to reach INR4bn ($63.7m) turnover from its new business over the next three-year period, and is targeting the segment to contribute 15% to its turnover in five years.
