GCPL is on its way to acquiring the 51 per cent stake of Sara Lee. What is the roadmap ahead?
The task will be to grow the business rapidly and look at synergies with GCPL. The road has been paved with GCPL taking full control of the JV. So, we will be able to devote our attention fully to that objective.
How do you propose to finance the deal?
The deal will be partly financed via debt and equity. I cannot disclose the names of the bankers we are talking to. But, yes, we are speaking to private equity players to raise about Rs 600-700 crore. This money will be utilised to finance this transaction as well as future deals. This is not going to be the only acquisition for us. We are looking at more, for which we need money.
Analysts estimate you have room for one more acquisition after this if the board approval of Rs 3,000 crore for fund-raising of acquisitions is taken into account.
I cannot comment on this.
You are also looking at a larger health and hygiene play in the future.Please shed some light on this.
Our core focus areas continue to be hair care, personal wash and home care, but, yes, we have launched the Protekt range of sanitizers, hand wash and wet wipes in the last financial year. The objective is to grow the portfolio, which we will do appropriately, going forward.
