INDIA: Marico set to expand brands
At a recent press conference the chairman and managing director of Marico Industries Ltd, Harsh Mariwala, announced his company's intention to diversify and look into the acquisition of brands in the food and personal care categories.He told the audience that the plan was to move beyond the marketing of current brands, but that "apart from synergies with existing product lines, the right price will also be a key consideration for acquisitions." At present the company markets Sil jams, the prominent edible oil brands Saffola and Sweekar and the hair care brands Parachute and Mediker, which will be consolidated with Marico's hair care division. Mariwala was in Delhi to add the company's support to the "World Health Week" through the Saffola Healthy Heart Foundation. In addition, an investment of Rs 30 lakh was made to establish a web site goodforheart.com and next month a series of television commercials will be aired to support the cause of preventative heart care, all funded by Marico. World Health Day (on 24 September) is being observed across 28 countries.
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