FMCG giant DS Group, famous for producing Rajnigandha pan masala, announced on Tuesday that it had acquired The Good Stuff Pvt Ltd, owner of the LuvIt Chocolate and Confectionery brand.
“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 company said in a statement.
Goldman Sachs and Mitsui Ventures formerly owned The Good Stuff Pvt Ltd (also known as Global CP Pvt Ltd), according to the press release.
The DS Group entered the confectionery industry in 2012 and now boasts a diverse portfolio of well-known non-chocolate brands like Pass Pass, Pulse, Chingles, Rajnigandha Silver Pearls, Maze, as well as a recent partnership with upscale Swiss chocolate brand Läderach for its first-ever Indian launch.
“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,” said Rajiv Kumar, Vice Chairman, DS Group.
The Good Stuff Pvt Ltd was established in 2014, and in the financial years 21 and 22 it generated more than Rs 100 crores in revenue, with the brand LuvIt accounting for almost 90% of that total.
“The Indian confectionery market is valued at approximately Rs 23,000 crores, out of which, chocolates as a category dominates with almost 60% share at Rs 13,800 crore. The Indian chocolate market is expected to grow at a CAGR of 6.69% till 2028,” said DS Group quoting an industry report.
