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Marico may enter snacks, biscuits category

Marico may enter snacks, biscuits category
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First Published: Fri, Mar 18 2011. 07 36 PM IST
Updated: Fri, Mar 18 2011. 07 36 PM IST
New Delhi: Marico Ltd , known for its hair oil brand Parachute and edible oil brand Saffola will focus on the packaged foods segment in a big way. The company may look at entering the snack food and biscuits categories, said Harsh Mariwala, chairman and managing director of Marico Industries and the newly appointed president of the industry body FICCI or Federation of Indian Chambers of Commerce and Industry.
However, he refused to comment on the company’s acquisition of Unibic India Pvt Ltd that makes biscuits. According to media reports, Marico was in the process of acquiring stake in Unibic. “We do not comment on acquisitions,” Mariwala said, adding that the food segment was growing very fast and “we would like to participate in that growth through the health plank via products that are differentiated and offerings at the premium end.”
Marico’s turnover will cross Rs 3,000 crore this year and the company has already launched its first skincare product – a moisturizer under the Parachute brand, Mariwala said.
Talking about his new role at FICCI, Mariwala said the immediate focus would be on convincing the state governments on GST (Goods and Services Tax). “We would meet the state finance ministers to persuade them and allay their fears,” he said.
Bhavna Raghuvanshi
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First Published: Fri, Mar 18 2011. 07 36 PM IST
More Topics: Marico | Snacks | Biscuits | FICCI | Unibic India |