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Dr. Oetker announces acquisition of Fun Foods India
Our Bureau
Date of posting: 18-12-08
      Dr. Oetker-Group has announced today the acquisition of Fun Foods India, a leading Indian manufacturer of branded packaged food products and market leader in mayonnaise and sandwich spreads. Dr. Oetker intends to be the leading purveyor of western cuisine to India, the company says in a media release.

      Fun Foods, being also a leading supplier to restaurant chains such as Pizza Hut, KFC, Subways and others, has a nationwide sales and marketing network and operates factories in Rajasthan and Uttarakhand.

      The acquisition would help Dr. Oetker India establish a leading market position, the company said, but did not disclose any price for the acquisition. The Economic Times had reported earlier in connection with Dr. Oetker approaching the Foreign Investment and Promotion Board (FIPB) that Dr. Oetker would pay a price of Rs 110 crore (approx. € 18 million). Dr. Oetker India had applied with FIPB for approval of a downstream investment.

      Oliver Mirza, currently the Managing Director of Dr. Oetker India Pvt Ltd., will take over as new Managing Director of Fun Foods India. The Bahl family would continue to be part of the senior management team.

      The Oetker-Group is one of Germany’s largest fully privately owned diversified industrial groups with a turnover of € 7.7.billion and 7000 employees and with a substantial interests in the food sector (€ 1.9 billion) with about 300 different products. Other business sectors of the group include beer, banking, logistics and wines and spirits. In India, Dr. Oetker has launched baking mixes, dessert mixes and frozen pizza.

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