Godrej group on the lookout for acquisitions

Kolkata, Aug 20 (PTI) The Godrej group, with threecompanies in its fold, is looking for acquisitions indeveloping countries of Asia, Africa and South America. "We are giving a strong emphasis on inorganic growth. Weare also looking to acquire businesses in the developingcountries of Asia, Africa and South America," Chairman ofGodrej group Adi Godrej said. He said the group had already acquired some businesses inthe past few years, adding that organic growth had suppressedof late. Spelling out the group’s vision of ten times growth in tenyears, he said the acquisitions would be mainly in thepersonal and household care segments. "There is no budget fixed for acquisitions. We hope to fixthe deals this financial year," Godrej told reporters at achat here last evening. The Godrej group with its three companies – GodrejIndustries, Godrej Consumer Care and Godrej Agrovet – commandsa customer base of 75 crore within India and 1.1 billionglobally. He said globally, businesses were down and thus valuationslow and "this is the right time to acquire". About the outlook on consumption growth, he said with goodmonsoon, consumer offtake was likely to pick up from thecurrent quarter. PTI DC PRANU