Mobility paves Samsung’s silver path
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
The city-based Rs 1,800 crore diversified Keventer Group is preparing for fresh acquisitions in the dairy sector. Keventer Agro Ltd, a group outfit, has targeted three dairy product manufacturers for takeover for strengthening its presence in the sector, particularly in the northern region, according to Mr Mayank Jalan, Managing Director of the company.
The dairy unit under Keventer Agro Ltd currently churns out about half a million litre of milk a day. “The aim is to produce two million litres of milk every day within the next three years and for that we need to scale up our capacity either by way of acquisitions or through Greenfield expansion,” Mr Jalan said at a press conference here. At present, the company is an eastern regional dairy player.
Unlisted Keventer Agro was also close to another acquisition of a non-dairy but, food company, he said without offering details. “We are in advanced stage of negotiations with three dairy companies. We have earmarked Rs 1,200 crore for expansion in the food arena,” Mr Jalan said.
“One of the three companies is having funds crunch, while in another the promoter wants to exit. The third one has stopped manufacturing. These targets would be important for the group's geographical presence in north India,” he said. The acquisitions may complete by December-end.
Greenfield expansion
Keventer has a plan of Greenfield expansion in case its acquisition attempts do not succeed. “If the negotiations mature into deals by December, then we will start working on our Greenfield project from January,” he said. The company has identified 40 acres near Delhi, where it plans to set up a plant with a capacity of 8 lakh litres milk a day. The plant could take up to two years to become fully operational.
Food Park in Bihar
Keventer Group also has plans to develop a food park spread over 125 acres in Bhagalpur, Bihar. The park would be set up by Keventer Projects Ltd, a realty group company, in partnership with Future Ventures, Mr Jalan said. The food park would entail an investment of Rs 200 crore. In the park, Keventer Agro will set up a Rs 130-crore maize-based unit processing starch, glucose and dextrose and a cattle feed plant in collaboration with Keenan Technologies, Ireland.
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
Antrix should adopt a different tactic than merely fighting over jurisdiction: Experts
Invest in relationships, enterprise, behaviour, effort and learning
From different types of osmoses to new membranes, researchers have come up with ways of drawing water
Will a stock continue its current trend or will it reverse? We tell you how you can read chart patterns to ...
Sensex and Nifty 50 saw selling interest on Friday and slumped; selling pressure could continue
Investors with a long-term horizon can consider this offer
Most AMCs have been sending out cryptic e-mails. We tell you how to read between the lines
In these isolated times when people yearn for a slice of the familiar, amateur and professional chefs are ...
Forget the tuna. The island nation will keep you full and happy with coconut, koftas and jasmine
This year, on Facebook, I saw that someone had posted a list of EASY RESOLUTIONS. I didn’t copy them down but ...
With strokes of quirky humour, Partha Pratim Deb uses pulp, terracotta, glass and discarded cloth to create ...
Digital is becoming dominant media, but are companies and their ad agencies transforming fast enough to make a ...
Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences
How marketers can use the traditional exchange of festive wishes meaningfully
For Fortune, a brand celebrating its 20th anniversary, it was a rude shock to become the butt of social media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor