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Fun Foods sold to German company for Rs 111 crore
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Monday, 22 December, 2008, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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The promoters of Fun Foods group have sold their entire stake to Oetker group of Germany for an aggregate value of Rs 111 crore. Incorporated in 1983, by the Bahl family, Fun Foods India is a leading manufacturer of branded packaged food products. The Bahl family will remain part of the senior management team.
Fun Foods is a market leader in mayonnaise and sandwich spreads, with a nationwide sales and marketing network and factories in Rajasthan and Uttarakhand. Fun Foods also caters to the institutional food industry, supplying to restaurants, hotels and airlines.
The 7-billion euro Oetker group is one of Germany's largest privately-owned diversified industrial groups with substantial interest in the food sector.
JM Financial Consultants have advised Fun Foods in the deal. The deal shows a renewed MNC interest in India's processed foods sector. In the recent pat, confectionery major Hershey's bought Godrej Beverages and Foods, while Kraft evinced an interest in the Indian market. Oetker's Indian arm, Dr Oetket India, was set up last year to launch some frozen products and mixes.
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