FMCG major Emami is eyeing acquisition of companies in UK and South Africa in the personal and healthcare space.
Simultaneously, the company is waiting for a notice from Sebi before it can make an open offer price of Rs 7,315 a share to Zandu Pharmaceuticals shareholders.
Emami recently increased its stake in Zandu Pharmaceutical Works to 27.5 per cent, from four per cent holding earlier. Emami therefore has to buy an additional 20 per cent stake in Zandu Pharmaceutical, according to the regulatory provision.
The company is also raising its borrowing limit to Rs 500 crore to look for other takeover targets.
Emami expects sales to grow 20-25 per cent in fiscal 2009 and plans to invest Rs 150 crore during the year for brand building and product development.
In 2007-08, the company's sales stood at Rs 585 crore.
"Sales growth will come from power brands, brand extensions and new launches," said Aditya Agarwal, director of the company, at a press conference held here today.
The company also plans to introduce edible oil brands by 2009.
Currently it is selling edible oil in bulk to industries. Emami invested Rs 250 crore in its plant at Haldia in West Bengal to foray into the edible oils business this year. It would produce palm oil, soya oil and rice bran oil.
According to plans, 300 tonnes of bio-diesel and 1,000 tonnes of palm oil will be produced per day. By December, the company will start production of soya and rice bran oil at the plant.
Investment into edible oil will ensure production of 800 tonne of palm oil, 600 tonne of soya oil, and 200 tonne of rice bran oil per day.
