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A Mahendran, former Managing Director of Godrej Consumer Products, has floated a fast-moving consumer goods company – Global Beverages & Foods Pvt Ltd (GBFPL) – with a an investment of ₹315 crore from Mitsui Global Investment and Goldman Sachs.
Both the private equity investors are estimated to have picked a 70 per cent stake in the company.
“The private equity partners will hold a significant stake in the company and with capital adequacy, we will be in the food and beverage category. We will bring in global technologies from countries like Japan and the US, and launch organic brands in categories such as juices, confectionary and snacks,” Mahendran, Chairman and MD of GBFPL, told reporters.
He would also be open to acquisitions in the food and beverage space and regional brands could be targets for the new company.
It would also consider entering health-oriented beverages and value-added mineral water with the new global technologies.
With plans of straddling the entire price pyramid, the brands from GBFPL would cater to both rural and urban markets and building its distribution from scratch.
“There would be global sourcing of technology and the products will be sub-contracted to third party manufacturers mostly,’’ added Mahendran.
Comparing itself to Indian companies in the food and beverage space like Parle Agro and Britannia, GBFPL would have to contend with the might of multinationals in the category. Mahendran has been a serial entrepreneur and has built FMCG brands like GoodKnight and Hit.
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