The $1.7 billion Godrej Group is targeting at least two acquisitions every year in China, Indonesia and Brazil to expand its fast moving consumer goods (FMCG) business.
The group, which had recently taken over UK's Keyline, South Africa's Rapidol and home-grown Nutrine, is aiming at 25 per cent annual growth, of which five per cent is expected to come through acquisitions, the group's Chairman Adi Godrej told PTI here.
Acquisitions in these overseas markets will primarily be in the personal and household care segments, he said.
"Last year, our FMCG business grew by 30 per cent and we are aiming at at least two acquisitions a year to further fuel our growth," Godrej said.
The group was looking at some more overseas acquisitions in South Africa and one or two in Europe, he said, adding that there could be some domestic buyouts as well besides organic growth.
The FMCG business does not require a huge capital. "It is more an opportunity-based business rather than a capital- intensive one," the Godrej Group Chairman said.
The group would look at both organic and inorganic modes of growth. "Our strategy is not either-or. The acquisitions are aimed at furthering integration to fuel growth," he said.
The group's acquisitions are, however, more likely to be in overseas markets "as there is a hostile atmosphere to takeovers in India," Godrej said, adding that "anyway in the FMCG sector, there is not much opportunity for domestic acquisitions."