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Mumbai, March 11

Marico Ltd divested its processed foods business brand ‘Sil’ to Danish Good Food Group’s (GFG) Indian subsidiary Scandic Food India Pvt Ltd for an undisclosed sum of money, according to a company release. The divestment is on a slump sale basis and includes the manufacturing facility at Saswad, near Pune. Scandic will take on board the present employees at Marico’s facility. Marico will distribute the Sil range of products for Scandic for one year. Mr Saugata Gupta, Chief Executive Officer, Marico, said, “This divestment will release management bandwidth for our core that is Beauty and Wellness. Although Sil was a very small part of our business, it would provide a good platform to Scandic Food to farm the jams and sauces category in India.” Mr Otto Christensen, Chairman of the Good Food Group stated, “The acquisition of Sil business enhances our presence in the country and complements our range of premium jams under the brand Dana.”

– Our Bureau

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