Dharampal Satyapal Group (DS Group), which is into multi-businesses, has announced the acquisition of The Good Stuff Pvt. Ltd. (formerly Global CP Pvt. Ltd.), brand owner of LuvIt Chocolate and confectionary, earlier owned by Goldman Sachs and Mitsui Ventures, for an unspecified amount. “This acquisition is a strategic move to grow and strengthen the Group’s Confectionary portfolio, whilst widening its distribution reach across grocery and other retail outlets,” the Group said in a statement.
Rajiv Kumar, Vice Chairman said, “DS Group has been focusing on increasing its presence in the confectionary segment for the last many years. Acquisition of LuvIt was a strategic decision to enhance our confectionary basket and enter the Chocolate segment with an impressionable footprint.”
“This would enable us to expand our product portfolio thereby reaching new consumers and markets too. LuvIt as a brand, perfectly complements our portfolio and synergizes with our business ethos of innovation and premium quality,” he added.
