ITC eyeing strategic acquisitions in FMCG business
Diversified conglomerate ITC Ltd is engaging with and investing ...
Diversified conglomerate ITC Ltd is engaging with and investing in start-ups while looking at strategic opportunities for acquisitions to accelerate growth in the FMCG business, its Chairman-cum-Managing Director (CMD) Sanjiv Puri said in July.
“Today, around 25 per cent of ITC’s segment revenue is from newer FMCG businesses... To accelerate growth in the FMCG businesses, the endeavour is not only to fortify the existing categories towards delivering industry leading performance but also to foray into newer categories and sub-segments,” Mr Puri said, addressing shareholders at the company’s Annual General Meeting. “This would he supported by multi-dimensional investments as also strategic opportunities for acquisitions,” he said delivering the Chairman’s speech.