Indian group Godrej Consumer Products (GCPL) has confirmed that it is looking to raise capital in order to fund expansion, including acquisitions.
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“We are in a position where we wish to expand our business and intend to capitalise on acquisition opportunities as and when attractive propositions arise,” a spokesperson told just-food.
The Indian firm is looking to raise around INR30bn (US$643m) and has previously indicated that it is targeting expansion in the emerging markets of China, South Africa and Brazil.
Godrej also said that it remains interested in acquiring the 51% stake in its joint venture with Sara Lee that it does not already own.
Godrej-Sara Lee manufactures household and air care products. Sara Lee recently inked a deal to sell its Ambi Pur air care business to Procter & Gamble in a bid to increase its focus on its core food business.
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