Earlier this month, Dabur announced plans to offload its 60 per cent stake in Excelsia Foods to minority stake holder Osem of Israel.

Since Osem Worldwide was taken over by Nestle SA last year, this announcement effectually means that Nestle will be picking up the majority stake in Excelsia. Also, Dabur is divesting its 49 per cent stake in the confectionery joint venture General de Confeteria to majority stake holder Agrolimen of Spain. Both the divestments should be completed by March next, Burman said. The divestments are in line with what consultants McKinsey recommended last year in order to enable Dabur to focus on its core strengths.