NEW DELHI :
Pradip Burman—part of fast moving consumer goods major Dabur India's Burman family and grandson of the company’s founder SK Burman—has sold off his over three-decade-old nutraceutical company Sanat Products to homeopathy major Willmar Schwabe India for an undisclosed amount.
Burman, 77, said he will now focus on building his non-for-profit organization Mobius Foundation of which Burman is chairman.
“Ratna Commercial Enterprises, a closely held NBFC and investment company owned primarily by Pradip Burman and other members of the Burman family, today announced that Dr. Willmar Schwabe India (P) Ltd, a wholly owned subsidiary of Dr. Willmar Schwabe GmbH, Germany, has acquired RCE’s entire stake, amounting to 100%, in its nutraceutical company, Sanat Products Ltd.," the company said in a statement.
The proceeds of the sale will be used primarily to support the activities of the foundation that is engaged in projects spanning environment sustainability and education. “I’ve got things to do with Mobius and want to concentrate on that," Burman, who is also chairman, Dabur Nepal Pvt Ltd, told Mint.
The sale comes at a time when interest in health and immunity products is a big draw from shoppers amid the covid-19 pandemic. “This is a good time because everyone is turning to Ayurveda and homeopathy to build immunity," said Burman who holds 9% stake in Dabur India, according to estimates by Forbes.
Sanat Products started out as Lucky Laboratories in 1984 as an entity to supply natural ingredients to Dabur. In 2001, Burman took control of the company and renamed it as Sanat Products Ltd. The company has two manufacturing units in India and is a manufacturer, supplier and exporter of herbal and ayurvedic health supplements and beauty products such as Sunova Bioslim, Sunova Spirulina, Sunova Curcumin, Uplat, Turmix and many others.
Earlier this month, Dabur India chairman, Amit Burman, bought a stake in emotional and mental wellness platform No Worry No Tension Healthcare (NWNT), according to a report in The Economic Times newspaper.