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Aug, 18 2014

Cavin's to acquire big boys, planning to become second major player in dairy biz

The brand is also looking for more equity dilution to support its aggressive growth plans, spending around Rs 200 crore in expansion.

Cavin's, the dairy brand started by CavinKare in 2009 is eyeing more revenue to come from the dairy segment.

CavinKare, the maker of Chik shampoo sachet, Fairever fairness cream, Spinz deo and Nyle herbal shampoo, closed FY14 with around Rs 1,250 crore revenue, of which the dairy business contributed around 20 per cent, food and beverages around 15 per cent.

Commenting on its growth projection, C K Ranganathan, Chairman and MD, CavinKare, said, “While personal care will remain important for us as it is the growth driver for the group, we see tremendous growth opportunities in dairy products.”

The group is also planning to make Cavin’s the second largest national dairy major after Amul and believes the company is well positioned to become a national player.

The company forayed into this segment in 2009 and one of its successful products is milkshakes. In one year, it managed to capture around 24 per cent share in the southern market.

Cavin's products include milk, milk powders, curd, lassi, butter, cheese, paneer and the company has options to extend to others.

While at present, only the milkshake is available across the country, the rest of the dairy products are expected to go national in the coming months.

To support the aggressive expansion, CavinKare plans to increase its brand building expenses to Rs 200 crore from the current Rs 150 crore and has roped in cricketer Ravichandran Ashwin.

The brand will spend about two per cent of its revenue on research & development.


 

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