India’s Godrej Group has said that it will sharpen its focus on the company’s confectionery and beverages units, withdrawing from the tea and edible oils markets.
Go deeper with GlobalData
“We intend to drive growth at our Godrej Beverages and Foods unit… Here we have seen good growth and we will continue to drive expansion,” a spokesperson for Gordej confirmed today (21 August).
Godrej Beverages and Food operates the Nutrine confectionery brand. The company also recently established Godrej Hersheys, a confectionery joint venture with US confectionery giant Hershey
In contrast, Gordej said that its tea and oils units had a “low” growth rate of 5-10%.
Speaking to the Economic Times, managing director A Mahendran said that the company would “exit” the tea and edible oils businesses because they are “pulling down our overall growth rate”.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe spokesperson declined to comment on whether Godrej intends to sell the businesses outright.
Indian reports have suggested that the group could seek strategic partners to form a joint venture to operate the units.
