Eveready may acquire consumer goods brand

Eveready may acquire consumer goods brand

Kolkata: Eveready Industries India Ltd may acquire a brand in the fast-moving consumer goods space, managing director and vice-chairman Deepak Khaitan said on Friday.

“Things are looking up for us with revival in the demand for our core business and we think it is the right time to go for an acquisition," Khaitan said.

He said the size of the acquisition would be around Rs150-200 crore.

He said the acquisition would be within the country and won’t be in the battery space, Eveready’s main line of business.

“We are looking at brands beyond tea, but not excluding tea brands," Khaitan said without disclosing any details of the acquisition.

Eveready sells tea brands such as Tez, Jaago and Classic.