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Yash Birla Group acquires additional 48% stake in BKV JV

Yash Birla Group acquires additional 48% stake in BKV JV
PTI
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First Published: Mon, May 16 2011. 07 28 PM IST
Updated: Mon, May 16 2011. 07 28 PM IST
Mumbai: The Yash Birla Group, which owns a 51% stake in its joint venture with Birla Kerala Vaidyashala (BKV), on Monday said that it has successfully acquired the remaining 48% stake, leaving 1% for its promoters - Kurup family.
“This acquisition marks yet another milestone in our foray into the ayurvedic healthcare and wellness industry,” Birla Wellness’ CEO N. Venkat said
“Apart from the planned geographical expansion, we are also looking to capitalise on the growing demand for quality solutions on mental and bodily wellness,” he added.
Since its inception in 2008, BKV today has more than 40 ayurvedic spas across key cities in India. The company which specializes in therapeutic massages and treatments for lifestyle disorders, plans to go international by launching ayurvedic medspa centres in the Gulf region as well as South East Asia.
“The balance stake acquisition of BKV will not only allow us to create a niche within the industry and expand our current portfolio, but also showcase our absolute commitment to the project,” Venkat said.
After this acquisition, the group aims to grow its healthcare arm through a strategic phase-wise five-year plan, beginning with expansion of centres through the franchise route in major Indian cities.
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First Published: Mon, May 16 2011. 07 28 PM IST