Marico bets on overseas growth

FMCG player Marico, which gets about 23 per cent of its turnover from Asian, Middle Eastern and African markets, is eyeing more acquisitions abroad.

FMCG player Marico, which gets about 23 per cent of its turnover from Asian, Middle Eastern and African markets, is eyeing more acquisitions abroad. “These markets offer ample opportunities for us to grow and thus the choice to be present in these markets for our consumer products and for Kaya,” said Harsh Mariwala, CMD-Marico.

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In future the company may look at more acquisitions. “Compared to domestic opportunities we see more international acquisitions happening. The acquisition size may range between Rs 50-400 crore,” said Mariwala. Earlier this year, Marico acquired Code 10, the Colgate Palmolive hair care brand in Malaysia.