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Mar, 07 2015

Nepal's CG Corp plans to acquire Indian F&B companies

The company which owns Wai Wai brand of noodles is planning to quadruple its production from half a billion packets in the next five years.

CG Corp, owned by Nepal's first billionaire Binod K Chaudhary, is planning to acquire Indian food companies, reported ET.

The company which owns Wai Wai brand of noodles is planning to quadruple its production from half a billion packets in the next five years in order to increase its market share in the country.

"We are very actively looking at expanding through M&A route in the food and beverage category in India. We are looking at investing several hundred crore in this category,” said said Chaudhary, Chairman of CG Corp.

CG Food India has a turnover of Rs 600 crore and is looking for right opportunities to tap the Indian food sector.

“The company is also considering providing infrastructure to food and beverage companies as well as joint venture opportunities in its upcoming food park in Rajasthan,” added Chaudhary.

Besides, it is eyeing partnerships that will help it ramp up its distribution network in south India.

The brand has a market share of 65 per cent in north-eastern states of the country and 15 per cent in northern India.

"Our presence in south and west is still small, so we are looking at expanding in that region," he added further.

The company has seven plants and is looking to set up another plant in Madhya Pradesh or Rajasthan.
 

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