Cadila Healthcare Ltd has acquired a 14.96% stake in Carnation Nutra-Analogue Foods Ltd, the manufacturers of Nutralite, India's largest selling margarine which is currently enjoying a market share close to 60%. Nutralite margarine is a healthier substitute for butter.
The company has now made a public offer to acquire additional 20% stake in Carnation Nutra-Analogue Foods Ltd to raise its holding. The acquisition includes the company's manufacturing plant. The company also has a strong network of 350 distributors. A profit making company, Carnation Nutra-Analogue Foods Ltd had posted a turnover of Rs 300 million in 2005-06.
Nutralite will be marketed by the company's Consumer Products Division which currently markets India's largest selling sweetener brand-Sugar Free.
Speaking on the new development, Pankaj R Patel, Chairman and Managing Director of the Company said, "Over the past few years, our focus has been on supporting healthy lifestyles and this forms an essential part of our healthcare business. We have market leadership in the sweetener segment through our brand Sugar Free and we see this acquisition as an excellent synergistic opportunity to offer a healthy dietary supplement. Freedom from calories that people enjoy with Sugar Free is now extended to Freedom from cholesterol with Nutralite."