Goldman Sachs, Mitsui PEs invest Rs 315 cr in Global Beverages

Written by PTI | Mumbai | Updated: Feb 19 2014, 23:17pm hrs
GMoney raised by Goldman Sachs, Mitsui PEs will be used to bring global technology for manufacturing. PTI
Global Beverages & Foods (GBF), promoted by fomer Godrej group head A Mahendran, has raised Rs 315 crore from Goldman Sachs and Mitsui Global Investment to build a large, fast-moving consumer goods platform.

"Given the potential of the FMCG market in the country, there is a huge scope to build a brand here. Besides, the rural market is still virgin, which gives us a better opportunity to build our brand in those regions," Mahendran said here today.

The money raised will be used to bring global technology for manufacturing, he said.

"The Indo-Japanese tie-up gives us the opportunity to bring global technology in the manufacturing. We will use the technology to develop manufacturing base here and cater to all consumers segments, including premium, medium and bottom of the pyramid," he said.

Initially, the company plans to outsource manufacturing and will use the newly raised fund to set up distribution network.

Talking about the business plan, Mahendran said, "We have our global plan in place and now we are working on the micro plan, which is likely to be finalised in next three months. We plan to introduce products in the confectionery, juices and even snacks segment to begin with."

The company is in talks with global players for technology tie-ups, he added.