Discovery buys majority stake in chef Sanjeev Kapoor's Turmeric Vision
Discovery buys majority stake in chef Sanjeev Kapoor's Turmeric Vision

Discovery Communication is buying a majority stake in celebrity chef Sanjeev Kapoor promoted Turmeric Vision which owns FoodFood channel for an undisclosed amount.

Turmeric Vision is a joint venture between Kapoor, Astro Overseas Ltd and Mogae Consultants.

The transaction is expected to be completed in the coming weeks and is subject to regulatory approvals.

“Discovery plans to support FoodFood’s complete focus on local programming and products, and to drive further value from the ongoing digitalisation of India. Discovery has also agreed to sell FoodFood’s advertising, effective immediately,” shared a statement released by Discovery Communication.

After the completion of the acquisition, Kapoor will continue to own a minority stake in Turmeric Vision as well as star and produce programming for the TV channel as its brand ambassador, added the statement.

Discovery said this move will help grow its audience share and strengthen its existing portfolio of female and lifestyle brands, which includes TLC and ID.

“Discovery’s investment in FoodFood further boosts our presence in this important market and broadens our portfolio by adding a category of content that people love,” shared Arthur Bastings, President & Managing Director, Discovery Networks Asia-Pacific.

The group is also planning to deepen the channel’s engagement particularly in digital and widen its consumer base internationally.

This partnership will help strengthen the channel’s reach and affinity with consumers, advertisers and distributors.

FoodFood was launched in 2011 and has presence in India, UAE, Canada and the US.

 
Stay on top – Get the daily news from Indian Retailer in your inbox
Also Worth Reading